Raiola had been hospitalized due to an illness and was earlier this week forced do deny on social media that he was dead after a hoax went viral.
Raiola was arguably the world's biggest football agent with clients such as Paul Pogba, Zlatan Ibrahimovic, Gianluigi Donnarumma and Erling Haaland.
Matthijs De Ligt, Mario Balotelli and Romelu Lukaku were some of his other clients.
He brokered some of football's biggest deals, including Pogba's then world record £89m transfer from Juventus to Manchester United in the summer of 2016.
A statement from his family posted to social media read: "In infinite sorrow, we share the passing of the most caring and amazing football agent that ever was.
"Mino fought until the end with the same strength he put on negotiation tables to defend our players. As usual, Mino made us proud and never realised it.
"Mino touched so many lives through his work and wrote a new chapter in the history of modern football. His presence will forever be missed.
"Mino's mission of making football a better place for players will continue with the same passion."
