Taylor died at Cedars-Sinai Medical Center in Los Angeles where she has been recovering from various ailments for the last three weeks.
A rep for the actress said:
“She was surrounded by her children, Michael Wilding, Christopher Wilding, Liza Todd, and Maria Burton." Elizabeth died peacefully from congestive heart failure, a condition with which she had struggled with for many years. Though she had recently suffered a number of complications, her condition had stabilized and it was hoped that she would be able to return home. Sadly, this was not to be."
Taylor was best known for her famous roles like "Cleopatra" and "Cat on a Hot Tin Roof", and won an Academy Award for best actress twice for her roles in "Butterfield 8" and "Who's Afraid of Virginia Woolf?".
Taylor, who was married eight times, twice to actor Richard Burton, is survived by 4 children, 10 grandchildren and 4 great grandchildren.
A private funeral is being arranged at her plot next to her parents at the Westwood Village Memorial Park Cemetery in Los Angeles along with some other famous friends like Marilyn Monroe, Natalie Wood, Truman Capote, Farrah Fawcett, Dean Martin and Walter Matthau.