The four-time gold Logie award-winning entertainer, who had a leg amputated in May this year due to a life-threatening infection, died on Saturday at a private clinic in Melbourne, according to media reports.
The Nine Network, with which Newton - affectionately known as Moonface - was longest associated, confirmed the news which sparked a widespread response from high-profile entertainers and politicians.
"Australian TV wouldn't be what it is without Bert," comedian Adam Hills tweeted.
"It's up to us all to take what he taught us, and keep his spirit alive."
Melbourne-born Newton started in the radio business aged 12 and scaled the heights of Australian entertainment on stage and screen.
Alongside Graham Kennedy and Don Lane he was part of a trio known as the kings of Australian television.
His TV credits include In Melbourne Tonight, The Graham Kennedy Show, The Don Lane Show, Good Morning Australia, New Faces, Bert's Family Feud, and 20 to 1.
On stage he played roles in the musicals Wicked, Annie, Grease, and as narrator in The Rocky Horror Show.
"Bert Newton was a giant of our industry, entertaining generations of Australians across our television screens," Nine's director of television Michael Healy said in a statement.
"He brought unbridled joy and laughter into our homes as part of so many programs, partnerships and formats."
Newton is survived by his wife of more than 46 years, Patti, children Lauren and Matthew, plus grandchildren.
Federal Labor leader Anthony Albanese said Australia has "lost an icon".
"My heart goes out to his family who have lost a husband, a father and friend," he tweeted.
Former Victorian Liberal premier Jeff Kennett also paid tribute among the torrent of condolences.
"Providing laughter and joy, and generosity for so many good causes. Patti, we are thinking of you and your family," he said on Twitter.
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