Tsang is a devout Buddhist, often leading other actors in efforts to raise money for Hong Kong Buddhist temples and events. Tsang's best friends are Natalis Chan and Alan Tam, who are also famous singers and actors from Hong Kong. Tsang has been close friends with Tam's family since childhood as their fathers were colleagues in the police force and played football together. Tsang was married two times. His first marriage was with Taiwanese actress Wang Mei Hua in 1972 and they had two daughters, Bowie Tsang and Tsang Wing Yee. Due to Tsang's sociable nature with spending more time with his friends and at work rather than at home, they divorced three years later in 1975. Wang brought their eldest daughter back to Taiwan, while their younger daughter moved to Canada. His second marriage was with Sung Lai Wah in 1989 and they had two sons, Derek Tsang, who is a famous international director who directed "Better Days", and Mark Tsang. Sung and her two sons later immigrated to Toronto, Canada without him, who chose to stay in Hong Kong and they had been living in a long-distance relationship since then. In December 2013, "Next Magazine" published an anonymously-produced interview with actress Yammie Lam where she said that she had been raped by two Hong Kong entertainment industry "big brothers" 20 years ago. According to Lam, one of the individuals had died not long ago, while the other individual is alive. She further claims that the second individual had raped her during a film production in Singapore. However, the names of the alleged perpetrators were censored out of the audio, which generated intense media speculation. It is not known who the interviewer was; in fact, the interviewer's voice shows evidence of having been digitally manipulated from a natural female voice to a male voice. In January 2018, a mainland Chinese journalist uploaded what purported to be an uncensored recording of Yammie Lam's 2013 interview. In the new 2018 clip, the interviewer now has a natural female voice, and the formerly censored portions implicate Alan Tang (deceased in 2011) and Eric Tsang as the two alleged rapists of Lam. Media analysts have endorsed the authenticity of the newly released video; they note that the 2018 video did not have noise removal or other post-production traces that are observed in the publicly released 2013 clip; hence, whomever leaked the video must have had direct access to the original unedited video. Two days after the release of the January 2018 video, the sexual offense claim against Eric Tsang was corroborated by Grace Han, a talent agent who formerly headed the Ford Models agency in Asia.