Beckenbauer had a long and influential career in the sport as a player, coach, pundit, and administrator for over 50 years.
He was known for his classy, dominant presence on the pitch when he played for West Germany and Bayern Munich in the 1960s and 70s.
His family said in a statement that Beckenbauer, "...passed away peacefully in his sleep yesterday, Sunday, surrounded by his family."
The midfielder was successful playing in the central defensive sweeper role which is known as the 'number 6' in modern soccer.
His Bayern Munich team was the best club side in the world during the mid-1970s, winning three successive European Cups and three successive Bundesliga titles, with Beckenbauer himself named European footballer of the year twice.
He also had an illustrious career for his national team, both as a player and a manager.
He won the 1972 European Championship and captained his side in 1974 that went on to win the World Cup.
He also won the tournament again as manager of Germany in 1990.
Shortly after his death was made public, politicians, fans, former colleagues and several football clubs reacted to the death of the football legend, often referred to as the "Kaiser" - German for emperor.
German leader Olaf Scholz said that "He was one of the greatest footballers in Germany and for many 'der Kaiser' also because of the excitement for German Football he created for generations."
