The Scottish actor's family confirmed his death to Fox News in a statement via his rep.
"He died peacefully in his sleep surrounded by family," Connery's rep tells Fox News on behalf of his wife, Micheline Roquebrune, and his two sons, Jason and Stephane.
A private ceremony will be held, his family said, followed by a memorial yet to be planned once the coronavirus pandemic has ended.
Connery's death was first reported by BBC on Saturday. He died overnight in the Bahamas, where he was known to be living in his final years.
Connery was an international star, having earned an Academy Award, multiple Golden Globes, including the Cecil B. DeMille and Henrietta Awards, as well as two British Academy Film Awards (BAFTA) awards.
One of his most memorable roles was as the first actor to tackle the character of James Bond on the silver screen, beginning with 1962's "Dr. No." His other notable films include "The Untouchables," "The Rock" and "Murder on the Orient Express."
After "Dr. No," Connery appeared in six more Bond films: "From Russia with Love," "Goldfinger," "Thunderball," "You Only Live Twice," "Diamonds are Forever" and "Never Say Never Again."
Bond movie producers Michael G. Wilson and Barbara Broccoli released a statement Saturday via the James Bond official Twitter account.
"We are devastated by the news of the passing of Sir Sean Connery. He was and shall always be remembered as the original James Bond whose indelible entrance into cinema history began when he announced those unforgettable words — 'The name’s Bond ... James Bond' — he revolutionised the world with his gritty and witty portrayal of the sexy and charismatic secret agent," said the producers. "He is undoubtedly largely responsible for the success of the film series and we shall be forever grateful to him.”
Connery's other films included "Indiana Jones and the Last Crusade," "The Hunt for Red October," "The Wind and the Lion," "The Man Who Would Be King" and "Finding Forrester."
It was his role in Brian de Palma's "The Untouchables" in 1987 that earned him a supporting actor Oscar.
In 1999, Connery was chosen as the Sexiest Man of the Century in a survey conducted by New Woman magazine, and one year later, he was knighted by Queen Elizabeth II.
Born Thomas Sean Connery in Edinburgh, Scotland on Aug. 25, 1930, he was the son of a factory worker and a domestic cleaner. According to BBC, he was raised in humble upbringings, in one room of a residence with a shared toilet and no hot water.
Connery left school at the age of 13 and eventually joined the Royal Navy but stomach ulcers reportedly cut that short. He was once a truck driver and a lifeguard before first posing as a model in his hometown.
A bodybuilder with looks that didn't go unnoticed by those around him, Connery won a Mr. Universe competition in London in 1953. It was just one year later he reportedly began dabbling in acting.
Connery's first acting role took place in 1954 for "Lilacs in the Spring." He also held minor roles on television before his first leading role came in 1957's "Blood Money."
In 1958 he starred opposite Lana Turner in "Another Time, Another Place."
Connery's acting career would later take off and set him on the path for international superstardom. On May 8, 1962 came the release of his first film as James Bond in "Dr. No." He went on to complete four more Bond films in the '60s -- "From Russia with Love" in 1963, "Goldfinger" in 1964, 1965's "Thunderball," and 1967's "You Only Live Twice."
Connery reportedly struggled with being typecast for his role as Bond, and while he turned down a role for "On Her Majesty's Secret Service," he did return for "Diamonds Are Forever" in 1971. His final Bond installment was "Never Say Never."
Connery leaves behind his wife, and his sons, Jason and Stephane Connery.
He was known to shun the Hollywood lifestyle, preferring a quiet life away from the spotlight with Roquebrune. The pair wed in 1975. Connery was married to Diane Cilento for 11 years. The pair wed in 1962 and divorced in 1973 amid allegations of his infidelity and being violent towards her.
Fox News' Nate Day and The Associated Press contributed to this report.