1:48 PM PT -- Wrestling star Shawn "X-Pac" Waltman -- who fought alongside Hall in the nWo -- just confirmed his friend has been taken off life support ... but is still fighting for his life.
Wrestling insider Dave Meltzer reported Hall was taken off life support earlier on Monday ... and it would be a "miracle" if he survives.
The family of Scott Hall -- the wrestling legend who was one of the famous founding members of the NWO -- will "discontinue" his life support on Monday ... his good friend Kevin Nash announced.
Nash, who wrestled with Hall in the WCW and helped form the NWO with the 63-year-old in the late 1990s, said doctors will end Hall's life support "once his family is in place" later Monday.
"I'm going to lose the one person on this planet I've spent more of my life with than anyone else," Nash wrote on his social media page late Sunday night.
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"My heart is broken and I'm so very f***ing sad. I love Scott with all my heart but now I have to prepare my life without him in the present."
Hall was put on life support following complications from a procedure to fix a broken hip he injured in a recent fall. According to PW Torch, Hall suffered three heart attacks while trying to recover from the surgery in the hospital on Saturday night.