The actor had been suffering from a long term illness, according to reports.
In a 30 year career, Gilyard starred as Theo who was Hans Gruber's terrorist alongside Alan Rickman and Bruce Willis in 1998 classic Die Hard, as well as starring in Top Gun as naval officer Marcus "Sundown" Williams alongside Tom Cruise in 1996.
Gilyard also starred in TV series Texas Ranger and Matlock and Walker.
Last year, Clarence Gilyard starred in the Legacy Of A Spy, as well as the films The Perfect Race and Christmas on the Coast. He also reprised his role as Theo alongside Willis' John McClane for a battery advert in 2020.
In recent years, Clarence Gilyard worked as a professor in film and theatre in Nevada, Las Vegas, with dean Nancy J Uscher sharing the news surrounding Gilyard's death with "profound sadness".
"His students were deeply inspired by him, as were all who knew him. He had many extraordinary talents and was extremely well-known in the university through his dedication to teaching and his professional accomplishments", she continued.
"He had a national and international following through his celebrated work in the theatre, film, and television. His generosity of spirit was boundless - he was always ready to contribute to projects and performances however possible".
She added that Gilyard will be remembered "with joy and gratitude".
UNLV chairperson Heather Addison hailed Gilyard as "a beacon of light and strength for everyone around him" at the university".
"Whenever we asked him how he was, he would cheerfully declare that he was 'blessed!' But we are truly the ones who were blessed to be his colleagues and students for so many years. We love you and will miss you dearly, Professor G!".