The New York Times confirms that the director passed away from lymphoma earlier today at his home in Manhattan, New York.
Lumet's career as a filmmaker spanned six decades, and he had directed almost 50 films by the time of his death.
His most well-known film is the 1957 courtroom drama 12 Angry Men, starring Henry Fonda, which was nominated for three Academy Awards upon its release.
Among Lumet's other critically-acclaimed films were Dog Day Afternoon, The Verdict, Network and the Motown-inspired The Wiz, starring Michael Jackson and Diana Ross.
Lumet himself never won an Academy Award for 'Best Director', despite being nominated four times, although he was presented with an honorary Academy Award for Lifetime Achievement in 2005.
His last film was the critically well-received 2008 crime drama Before the Devil Knows You're Dead starring Philip Seymour Hoffman and Ethan Hawke.