Her battle with illness was chronicled in the television documentary Farrah's Story earlier this year.
Her partner Ryan O'Neal said: "After a long and brave battle with cancer, our beloved Farrah has passed away."
He was said to be by her beside when she passed away in a Los Angeles hospital.
The star's former Charlie's Angels co-star Jaclyn Smith said: "Farrah had courage, she had strength, and she had faith."
The actress, who played Kelly Garrett in the hit TV series, added: "And now she has peace as she rests with the real angels."
Cheryl Ladd, who played Kris Munroe in the show, said: "I'm terribly sad about Farrah's passing. She was incredibly brave, and God will be welcoming her with open arms."
Her death has come just weeks her TV documentary was broadcast.