Columbian icon considered by many to be the best fighter the country has produced.
He won his first 12 fights as a professional before drawing with Nelson Munoz in 1973.
He attempted a comeback in 1991, 10 years after his initial retirement, which was chronicled in a documentary called Chi-chi-chi Le-le-le Martin Vargas of Chile.
He was born in Osorno, Chile.
He had a 13-fight winning streak which included wins over the likes of Rafael Pedroza, cousin of Hall of Famer Eusebio Pedroza.