A statement from Swan Turton solicitors, acting on behalf of the family, confirmed the news on Saturday.
It said: “It is with great sadness that the family of Peter Green announce his death this weekend, peacefully in his sleep.
“A further statement will be provided in the coming days”.
The influential blues rock guitarist, from Bethnal Green in London, formed Fleetwood Mac with drummer Mick Fleetwood in London in 1967.
Green left Fleetwood Mac after a final performance in 1970 as he struggled with mental health difficulties.
He was eventually diagnosed with schizophrenia and spent time in hospitals undergoing electro-convulsive therapy during the mid-70s.
Green was among the eight members of the band — along with Fleetwood, Stevie Nicks, Lindsey Buckingham, John McVie, Christine McVie, Danny Kirwan and Jeremy Spencer — who were inducted into the Rock & Roll Hall of Fame in 1998.
Earlier this year, artists including Fleetwood, Pink Floyd’s David Gilmour, ZZ Top’s Billy Gibbons and guitarists Jonny Lang and Andy Fairweather Low performed at the London Palladium during a gig celebrating the early years of Fleetwood Mac and its founder Peter Green.
