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Gosling joined the band in 1970, around seven years after its formation by Sir Ray Davies, his brother Dave, schoolfriend Peter Quaife and drummer, Mick Avory.
His audition was the recording session for the band's 1970 hit song, Lola, a track which went to number two in the singles charts.
The Kinks announced the musician's death in a statement posted to their social media page.
"We are deeply saddened by the news of the passing of John Gosling," the band said in their statement.
"We are sending our condolences to John's wife and family."
Sir Ray, the band's lead vocalist, also paid tribute to his friend and former bandmate and said: "Condolences to his wife Theresa and family. Rest in peace, dearest John."
Lead guitarist Dave Davies also offered his condolences and described Gosling as a "great musician and a great man".
"I'm dismayed, deeply upset by John Gosling's passing," he said.
"He has been a friend and important contributor to The Kinks music during his time with us. Deepest sympathies to his wife and family."
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Avory, the band's original drummer, also paid tribute, and described Gosling as a "great musician who had a fantastic sense of humour".
"He leaves us with some happy memories. God bless him...."
Gosling joined the band five years on from the American tour which led the American Federation Of Musicians to ban The Kinks from performing in the US for a period of four years.
Alongside Lola, Gosling was involved with the top 10 UK hits Apeman and Supersonic Rocket Ship.
He left the band in 1977 and was replaced by Gordon Edwards on keyboard, before Ian Gibbons joined the band in 1979.
In 1994, Gosling became a founding member of the band The Kast Off Kinks which comprised former band members Avory, Jim Rodford, John Dalton and Dave Clarke.
Gosling stayed in the band until his retirement in 2008.
In their time, The Kinks achieved chart success with three number one singles in the UK: You Really Got Me, Sunny Afternoon and Tired Of Waiting For You.