David Moores was the former chairman and owner of the football club.
Moores sold his majority stake in the club to Americans Tom and George Gillet.
The club said in a statement it was "deeply saddened" to learn of Moores' death.
The thoughts of everyone at FCL are with David's family and friends.
Moores oversaw the club's entry into the premier league in 1992 and was in charge as the club won 10 major trophies.
For the first time in 10 years, the lifelong Reds fan attended a game at the home of the Reds.
His uncle, Sir John Moores, was the founder of the Littlewoods retail empire and twice served as the chairman of the football club.
Moores appointed managers throughout his 16 year reign.
Kenny Dalglish offered his sympathies to the Moores family.
Dalglish wrote on Twitter: "He was a loyal Liverpool fan whose dream came true when he was appointed chairman, and he did a tremendous amount to help the club.
He's going to be missed by everyone who knew him. It is with a heavy heart that I say goodbye.