Swayze, 55, is best known for his role as dance instructor Johnny Castle opposite Jennifer Grey's character, infatuated teenager Frances "Baby" Houseman, in the 1987 movie musical "Dirty Dancing."
Swayze performed the song "She's Like the Wind" for the movie's soundtrack and his signature line, "Nobody puts Baby in the corner," has become a pop culture staple.
Swayze also starred alongside Demi Moore in the 1990 romance "Ghost," which also became a box office hit and was nominated for an Academy Award for best picture.
Patrick Swayze began performing at an early age and got his start in show business as a dancer and on the stage before landing film and TV roles in Hollywood.
Patrick Swayze's representatives released this statement Wednesday:
"Actor Patrick Swayze has been diagnosed with Pancreatic Cancer and is currently undergoing treatment. Patrick's physician Dr. George Fisher states, "Patrick has a very limited amount of disease and he appears to be responding well to treatment thus far. All of the reports stating the time frame of his prognosis and his physical side effects are absolutely untrue. We are considerably more optimistic." Patrick is continuing his normal schedule during this time, which includes working on upcoming projects. The outpouring of support and concern he has already received from the public is deeply appreciated by Patrick and his family."
Eyewitness News and ABCNews contributed to this report.