Wolves announced on their official website that Williams had passed away on Sunday morning at Wolverhampton's New Cross Hospital, surrounded by his family.
Williams joined Wolves from Walsall in 1945 and went on to make 420 appearances for the Molineux club.
He was a member of the team that lifted the FA Cup in 1949 and he also helped Wolves claim the First Division title in 1953/54.
Williams' form for Wolves saw him earn an England call-up and he made 24 appearances for his country.
He played in the 1950 World Cup in Brazil - including England's infamous 1-0 defeat to the USA in Belo Horizonte - and was the oldest living England international prior to his death.
Wolves chairman Steve Morgan told the club's official website: "Bert was not only a fantastic footballer both for club and country, but also a true gentleman who loved Wolves.
"Legend is a word which may be over-used these days, but in the case of Bert Williams it simply doesn't do him justice.
"He will be sadly missed at Molineux, but will never, ever be forgotten."