Banks' legacy as England's greatest goalkeeper was secured in 1966 but he is best remembered for an incredible save from Pele in Mexico four years later.
Born in Sheffield, Banks spent the majority of his club career with Leicester City and Stoke City, winning the League Cup with both eight years apart, before retiring in 1973, having lost sight in his right eye as the result of a vehicle crash.
He was one of the stars of England's 1966 World Cup final triumph against West Germany.
Born in Sheffield, he won the League Cup with Stoke and Leicester, before retiring in 1973.
They said: "It is with great sadness that we announce that Gordon passed away peacefully overnight".
'We are devastated to lose him but we have so many happy memories and could not have been more proud of him'.
His family said Banks, who lost an eye in a vehicle crash in 1972, had passed away in his sleep.
Pressman, who was coached by Banks when just a youngster, added: 'So sad to hear that Gordon Banks has passed away.
While fans were also taking to social media to pay tribute to the England legend.
"We would ask that the privacy of the family is respected at this time".
"A gentleman and a football legend RIP". "Our thoughts are with Gordon's family and friends".
Manchester City and England midfielder, Raheem Sterling said: "Of course there was THAT save, but its so much more we are mourning today".
'Oh no. Gordon Banks, an absolute hero of mine, and countless others, has died, ' Lineker said. I went into the training ground on my 6 weeks holidays to work with him.