A statement from her representative said: “Last night, the world lost an international treasure, and I lost a dear friend and beloved client. She died peacefully in Paris.”
The renowned actor was known for her performance as Melanie Hamilton in the 1939 epic Gone with the Wind.
At the time of her death Dame Olivia was the oldest living performer to have won an Oscar.
She won the Academy Award for Best Actress twice for To Each His Own in 1946 and for The Heiress in 1949.
Born in Japan to British parents, Dame Olivia first appeared on the big screen in 1935 as Dolly Stevens in Alibi Ike.
She made a number of television appearances and often worked on several movie titles a year until her last TV movie role as Aunt Bessie Merryman in The Woman He Loved in 1988.
More updates to follow...