Reps for the actor confirmed he had died in a statement on his official Facebook page in the early hours of Sunday morning.
Mike Myers, who starred alongside Verne in two of the 'Austin Powers' films, was one of the first to pay tribute to his Mini-Me sidekick.
In a statement, he said: "Verne was the consummate professional and a beacon of positivity for those of us who had the honour of working with him. It is a sad day, but I hope he is in a better place. He will be greatly missed."
British comic Keith Lemon also paid tribute. The pair worked together on 'Keith Lemon: The Film' in 2012, and Verne was also made several appearances as a guest on Lemon's ITV2 show 'Celebrity Juice'.
Sharing a picture of them together on Instagram, he wrote: "Fun times. Gonna miss that little dude. Magical powers to his family and many many close friends x."
US model and actress Carmen Electra also took to Instagram, sharing a picture of her holding Verne in her arms.
Other stars also paid tribute, including Michelle Heaton and Ben Adams, who both appeared on 'Celebrity Big Brother' with Verne in 2009.
Other tributes poured in for the star...
So sad to read of the passing of Verne Troyer. A lovely smile with a caring and big heart, he helped raise money on behalf of @starkeycares for free hearing aids for deaf and hard of hearing people. RIP pic.twitter.com/pgA91tWPo6— Marlee Matlin (@MarleeMatlin) April 21, 2018
sad news of my friend @VerneTroyer a lovely man with a big big heart❣He became an instan fan of #LUFC after his first visit to see Leeds v Derby and win 3-2 he always said to me he thought #Leeds people were the friendliest. pic.twitter.com/SmjJlHiLoV— Terry George (@TerryGeorge) April 22, 2018