The Austrian had struggled with health problems since the middle of last year, including a lung transplant in August which required a two-month hospital stay.
He then boarded again for a short period in early 2019 after contracting an influenza infection. It has been reported from Austrian press in recent days that he had received kidney dialysis in Switzerland.
Unfortunately, it has now been confirmed that he has lowered himself for his ill health and goes away on Monday surrounded by family.
"With deep grief, we tell that our beloved Niki has peacefully passed away with his family on Monday," his family said in a statement to Austrian media.
"His unique achievements as an athlete and entrepreneur are and will remain unforgettable, his tireless beauty of action, his simplicity and courage.
" A role model and benchmark for all of us, he was a loving and caring husband , father and grandfather away from the public, and he will be missing. "
Lauda was a giant of the Formula 1 paddock for over four decades. He made his debut in 1971, won his first competition in 1974 after joining Ferrari and then claimed a maiden in 1975.
The following season he was happy surviving a fierce crash at the Nürburgring, which left him badly burned. Remarkably, he just missed two races, which beat one of the most notable recurrences in sports history and just missed the championship with a single point to McLaren James Hunt.
The The second title for Ferrari came in 1977, before Lauda moved to Brabham for the 1978 season, his stint there lasting less than two seasons, Lauda from Formula 1 went halfway through practice for the Canadian Grand Prix 1979.
He then focused on his budding flight charter company in Austria until 1982 when he made his formula 1 recurring with McLaren, which provided a third world championship two seasons down when he beat teammate Alain Prost with only half a point.
After his second retirement in 1985, it was an advisory chief role at Ferrari in the 1990s, which was followed by the main job at Jaguar, which he accepted in 2001, but lasted only until 2002.
In 2012, he became the non- executive chairman of the Mercedes F1 team and was a key figure in the majority of the title-seeking squad until his illness last year.