The Queensland senator died on Tuesday, aged 85.
First elected to the Senate in 1983, he represented the Nationals in parliament for more than 30 years until his retirement from politics in 2014, and was one of the longest-serving senators.
Nationals leader David Littleproud paid tribute to the late senator.
"Ron was a Nationals elder and statesman of the highest order, a giant of our great cause and a lifelong fighter for families, small business and regional and rural Australia," he said in a statement.
"Above all though, Ron Boswell was a powerful champion for the everyday small businesspeople, farmers, fishers and their families.
"He was effective because he understood firsthand what it takes to start with an idea, work hard and build a successful business."
Prime Minister Anthony Albanese said Mr Boswell was a great Queenslander.
"He's someone who was very passionate about his support for the National Party here in Queensland, but he was also passionate about his support for our national interest," he told reporters in Cloncurry.
"He took principled stances about people who would seek to divide the nation. He was someone who was firmly focused on the national interest."
Opposition Leader Sussan Ley said Mr Boswell was a giant of the Nationals and Queensland politics.
"He brought a sharp mind, a strong voice and an unshakeable belief that Australians outside the big cities deserved to be heard, respected and backed by their government," she said.
"I had the privilege of serving alongside Ron, and I saw firsthand his deep commitment to the bush and to the farmers, families and small businesses he represented. He was never interested in politics for its own sake."
Mr Boswell regarded his defeat of Pauline Hanson for a Senate seat in 2001 as one of his proudest achievements.
He was one of the first to speak out against Senator Hanson, accusing her in 1997 of "racism, pure and simple".
Nationals senator Matt Canavan said Mr Boswell was tireless in his work.
"Even after Ron retired he would constantly be on the phone pestering his Nationals party colleagues to help this or that person. It will feel very strange not to receive those calls from Ron any more," he said.
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