Considered one of the giants of world cinema, Bertolucci was the only Italian ever to win the Oscar for best film, snapping up the award in 1988 for The Last Emperor.
He had gained notoriety for his 1972 erotic drama Last Tango In Paris starring Marlon Brando and Maria Schneider.
The filmmaker died at his home in Rome early yesterday, his press office Punto e Virgola said in an e-mail.
He was 77.
He had been wheelchair-bound for several years because of back problems.
Bertolucci’s biographical masterpiece about the last Chinese emperor won a total of nine Oscars, all of those for which it was nominated.
He won an honorary Palme d’Or for his life’s work at the 2011 Cannes Film Festival.
Former festival president Gilles Jacob said he was saddened by the death of “the last emperor of Italian cinema, the lord of all epics and all escapades”.
“The party is over: it takes two to tango,” Jacob told AFP.