According to The Independent, McLaren had been battling cancer for some time, although his condition rapidly deteriorated over recent weeks. He died this morning in Switzerland.
His body is expected to be brought home to be buried in Highgate Cemetery, North London.
Born in North London, McLaren was best known as manager and impresario of legendary punk band the Sex Pistols.
The star also featured on Big Brother: Celebrity Hijack in 2008.
Before embarking on his career in music, McLaren famously opened a clothes shop on the King's Road with ex-partner and fashion icon Vivienne Westwood.
The couple's son Joseph Corre is the co-founder of lingerie shop Agent Provocateur.