"Never did I ever imagine I would write these words or experience the feeling I now have at the loss of my son.
"My family and I are devastated to hear of the death of Sebastian just days before what would have been his 30th birthday.
"He leaves his wife Salma, his son Raheem born just a month ago, his mother Karron Meadows, brothers Nathanael, Chris, Jr, Joseph, one sister Emily and countless relatives and friends.
"As well as being a personal trainer and professional boxer, Sebastian was also a deep thinker who liked to challenge accepted wisdom.
"He was loved and respected by all who knew him and will be forever in the thoughts of friends and family. As a family we now kindly ask to be given space and privacy to celebrate his life and remember the son, the brother, the husband, the friend."
Sebastian, who boxed using the name Alka Lion, made his debut in February 2018 fighting Polish sportsman Kamil Kulczyk, and he made his Mixed Martial Arts (MMA) debut in 2019.
Though growing up in Hove, in England, he made his home in Dubai in recent years, and according to his father had a "wide circle of friends" and was a "leader in the adoption of a healthy lifestyle and of alternative therapies".
Sebastian followed up a successful amateur career before turning professional in 2018, winning three fights - one as recently as earlier this year.
His brother, Chris Eubank Jr, who is also a professional boxer, said on Twitter: "Rest easy little brother, I love you and you will be missed always."
Former world boxing champion Joe Calzaghe said: "Really Saddened to hear the news of the passing of Seb Eubank. Thoughts and Prayers to Chris and family."