The full-back played for West Brom and Arsenal, earning 23 England caps, before establishing himself as a renowned coach for club and country.
Howe helped Arsenal to a league and FA Cup double in 1971 and spent four years as West Brom boss before returning to the Gunners as coach and manager.
He also coached under former England managers Ron Greenwood, Sir Bobby Robson and Terry Venables.
Arsenal chairman Sir Chips Keswick said Howe had been "enduring a long battle with illness", but added it was still a "shock to learn the news".