The Associated Press reports that Okerlund passed early this morning at a hospital in Sarasota, Florida, near his home in Osprey, Florida. His wife Jeanne was by his side.
Gene's son told The AP that his father, who had undergone three kidney transplants, fell a few weeks ago "and it just kind of went from bad to worse."
Funeral arrangements for Okerlund are pending.
Peter Bahi contributed to this article.