The actress died from congestive heart failure. She was 79. In a statement, her son Michael Wilding said, "We will always be inspired by her enduring contribution to our world"
The 'Cleopatra' star was hospitalized last month for heart failure, and also underwent heart surgery in 2009.
In a recent Harper's Bazaar interview with super-fan Kim Kardashian, Taylor opened up about her many husbands, jewels and philanthropic work.
"I never planned to acquire a lot of jewels or a lot of husbands," Taylor told the 30-year-old Kardashian sister. "For me, life happened, just as it does for anyone else. I have been supremely lucky in my life in that I have known great love, and of course I am the temporary custodian of some incredible and beautiful things. But I have never felt more alive than when I watched my children delight in something, never more alive than when I have watched a great artist perform, and never richer than when I have scored a big check to fight AIDS."