Mr Jobs, 56, had been suffering with cancer since 2004 and recently announced his resignation from the position of chief executive, acknowledging that he could no longer meet the demands of the position.
The news was confirmed on Apple's website, with a short statement observing that the world was "immeasurably better" for Mr Job's creative thinking.
Indeed, Barack Obama, the US president, responded to the news by claiming that the "world has lost a visionary".
"Steve was among the greatest of American innovators - brave enough to think differently, bold enough to believe he could change the world, and talented enough to do it," the president remarked.
In a statement, Mr Jobs' family confirmed they were with him when he died peacefully.
Posted by Simon Jones
