The Chanel creative director passed away this morning in the American Hospital in Paris, according to French publication Pure People.
He had been admitted to hospital on Monday.
This comes after Lagerfeld failed to speak to fans at the climax of the Chanel fashion show in Paris last month because he was "tired."
It was the first time that the legendary fashion designer had not greeted the audience at the end of the show since he took over as creative director in 1983.
Lagerfeld spent a record breaking 36 years at the helm of the fashion house.
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