The death was announced by his publicist Yvette Noel-Schure after police had been called to the premises of the Paisley Park Studio.
No details were immediately given for the cause of death.Prince’s representative revealed that he had been battling with flu and was hospitalized last week.
“We are not releasing any information regarding the identity of the person who died until next of kin is notified,” CNN quoted Carver County Sheriff spokesman Jason Kamerud as saying.
Prince Rogers Nelson became a global superstar in the 1980s, with albums such as “1999”, “Purple Rain” and “Sign O’ the Times”.
He sold more than 100 million records during his career.
A singer, songwriter, arranger and multi-instrumentalist, Prince recorded more than 30 albums. His best known hits include “Let’s Go Crazy” and “When Doves Cry”.
In 2004, Prince was inducted into the Rock and Roll of Fame.
Earlier this month, Prince said he was not feeling well, and cancelled at least one concert in Atlanta, CNN reported citing the Atlanta Journal Constitution.