His death was announced by his personal physician and long time friend Iossif Kassios, Xinhua reported.
"(Former) President Clerides died at 6.20 p.m. (1620 GMT) Friday. Next to his bed were his daughter and son-in-law," Kassios said.
Glafkos Clerides was admitted in a private medical centre Wednesday after feeling indisposed, Iossif Kassios said.
Clerides lived in seclusion over the last few years at his sea-side residence near the southern city of Larnaca and only made rare public appearances at special events.
Clerides served two presidential terms between 1993 and 2003, which culminated in the successful conclusion of European Union accession negotiations, although the accession treaty was signed by his successor, Tassos Papadopoulos in 2004.
He held a central role in the establishment and the political life of Republic of Cyprus, having been a member of the Cypriot team which negotiated independence for the eastern Mediterranean island after a four-year guerilla war which ended 80 years of British colonial rule in 1960.