Maradona was recently treated for a blood clot in his brain but was discharged a fortnight ago following a successful surgery.
He is considered by many as arguably the greatest footballer of all-time, having captained Argentina to World Cup glory in Mexico in 1986.
Maradona is considered a legend at Italian giants Napoli, whom he helped win two Serie A titles and the UEFA Cup. He also represented Barcelona, Sevilla and Boca Juniors in his native Argentina, where he began his professional career.
Maradona tried his hands at coaching after hanging up his boots and was manager of Gimnasia De La Plata before his passing. He managed Argentina at the 2010 FIFA World Cup in South Africa.
Already, tributes have been pouring in for the departed star from all corners of the globe.
"What sad news," Brazil great Pele wrote on Twitter. "I lost a great friend and the world lost a legend.
"There is still much to be said, but for now, may God give strength to family members.
"One day, I hope we can play ball together in the sky."
Six-time Ballon d’Or winner and fellow Argentine Lionel Messi added: "A very sad day for all Argentines and for football. He leaves us but does not leave, because Diego is eternal.
"I keep all the beautiful moments I experienced with him and I wanted to take the opportunity to send my condolences to all his family and friends. RIP."
