Taylor officiated in more than 1,000 league matches and over 100 internationals in a career spanning more than 30 years, but earned a lasting place in the history books following the 1974 FIFA World Cup final between West Germany and the Netherlands in Munich.
After only a minute of the game, and before a German player touched the ball, he awarded the Dutch a penalty after ruling that Uli Hoeness fouled Johan Cruyff. Johan Neeskens scored from the spot to give the Dutch the lead.
He awarded a second penalty 25 minutes later, this time to the Germans who equalised and went on to win the game 2-1.
He was inducted into FIFA's Hall of Fame in 1999.
Premier League chief executive Richard Scudamore said he was extremely sad to hear of Taylor's death.
"Jack was one of English football's finest ambassadors who reached the pinnacle of refereeing and, until his very last days, continued to help the development of young referees,@ he said.
"From our first meeting he remained a constant source of encouragement and I will miss him. The game has lost a great servant and a true friend."