The YouTube video features clips of Paul from the famous films while the song Coming Home with vocals by Skylar Grey plays in the background.
Scenes featuring Paul with his co-stars Vin Diesel, Tyrese Gibson and Michelle Rodriguez play throughout the video ending with a poignant photo of the actor leaning on a sports car under the words 'In Loving Memory'.
In a message accompanying the video on YouTube, its creators asked that supporters send donations to Paul's charity Reach Out Worldwide.
"Paul Walker's family appreciates the outpouring of love and goodwill from his many fans and friends," read the message. "They have asked, in lieu of flowers or other gifts, that donations please be made to Paul's charity Reach Out Worldwide (ROWW)."
Within hours the tribute video received more than a million views and thousands of fans have left supportive comments.
Following the shocking news of Paul's tragic death Fast & Furious star Vin was quick to show his shock, posting a photo of the two on Instagram.
"Brother I will miss you very much," he wrote. "I am absolutely speechless.
"Heaven has gained a new Angel. Rest in Peace," added Vin who had started filming with Paul for the seventh Fast & Furious movie in September, due to be released in 2014.