Video | Paul the Octopus has died

According to staff at the Sea Life Aquarium in Oberhausen, Germany, Paul the Octopus has died "peacefully."

The staff at the aquarium, who are said to be devastated, have promised to build a memorial at the aquarium.

“Management and staff of the Oberhausen Sea Life Aquarium were devastated when Paul was found dead in the morning,” the aquarium said in a statement.

"Paul delighted people from all continents with his seven consecutive correct predictions for the matches of the German national team and for the final," said the aquarium's general manager, Stefan Porwoll. "He was dear to all our hearts and we will sorely miss him. He died peacefully in the night of natural causes. It is a comforting thought that he had a good life with us with the best possible care delivered by a committed team."

"In honor of Paul and in view of the worldwide interest, a memorial will be put up to him in our exhibition,"the aquarium said. "We will show his most beautiful and moving moments on a screen. And we will also display the presents we received from all over the world, along with the two glass boxes. We will also show Paul's urn."

It is believed that Paul was born in 2008 and thus he was nearing the end of his natural life. Octopuses only live three years on average.

But for all of those who were fans of Paul the predictive Octopus, Paul II is waiting on the wings.

"Behind the scenes, a young Paul is already acclimatizing himself, he was meant to be trained by Paul the First in the coming weeks," aquarium officials said.