Hefner died of natural causes at the Playboy Mansion, the magazine said.
Hefner founded Playboy Magazine in 1953, a magazine featuring nude and semi-nude photos of women, featuring celebrities such as Marilyn Monroe over the years.
"My father lived an exceptional and impactful life as a media and cultural pioneer and a leading voice behind some of the most significant social and cultural movements of our time in advocating free speech, civil rights and sexual freedom. He defined a lifestyle and ethos that lie at the heart of the Playboy brand, one of the most recognizable and enduring in history. He will be greatly missed by many, including his wife Crystal, my sister Christie and my brothers David and Marston and all of us at Playboy Enterprises," said Cooper Hefner, Chief Creative Officer of Playboy Enterprises.
Hefner was born and raised in Chicago before going into the Army. After fulfilling his military commitment, he worked in the publishing industry. Wanting to start a men's magazine, he put his furniture up as collateral and was issued a loan to start Playboy.
The magazine now drives more than $1 billion of revenue annually.
Hefner is survived by his wife Crystal, and four grown children.