According to reports, the Sin City actor died peacefully in his sleep, on May 14.
His agent confirmed a private service will be held in his home state of Texas.
Powers made a name for himself back in 1980, after he landed the role of Jim Jones in Guyana Tragedy: The Story Of Jim Jones.
He enjoyed an illustrious TV career, starring in Justice League, Nashville, 24 and most recently Agents Of Shield.
Fans rushed to Twitter to pay their respects to the late star.
"RIP Powers Boothe. Great talent, always controlled the screen with his presence," one wrote.
"A voice like gravel and a smile that would make Satan shiver. Always terrifying, always brilliant. Bye bye, #powersboothe," another commented.
A third said: "A voice like gravel and a smile that would make Satan shiver. Always terrifying, always brilliant. Bye bye, #powersboothe."
While his Agents Of Shield co-star Chloe Bennet added: "Terrible. We were incredibly lucky to have him on Shield. He taught me a lot. RIP Powers. My heart is with his family."
The actor also had stints on the big screen, with notable roles in The Avengers, Men of Honour, Con Air, and Southern Comfort.
Powers is survived by his childhood sweetheart, Pam Cole, whom he married in 1969.
The couple have two children, Parisse and Preston.
