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Davis, who was born July 4, 1929, won three Super Bowls and was inducted into the Pro Football Hall of Fame in 1992.
The Raiders' owner began his term in 1960, when he was a coach with the Los Angeles Chargers. He became head coach and general manager in 1963.
NFL Commissioner Roger Goodell released this statement on the death of Davis: "Al Davis's passion for football and his influence on the game were extraordinary. He defined the Raiders and contributed to pro football at every level. The respect he commanded was evident whose impact and legacy will forever be part of the NFL."
The family of Al Davis is expected to release a statement later Saturday.
Reports say Davis's son Mark will take over the operation of the team.
Bills owner Ralph Wilson, Jr. went back decades with Davis, as founding fathers of the AFL. On Saturday, Wilson released a statement regarding Davis' death:
“I am deeply saddened with the news of the passing of Al Davis. Al and I were very good friends for many years and I admired his innovative approach to the game of football.”
“Al had a great impact on the American Football League that carried over to the National Football League after the merger and his competitive spirit embodied our sport.”
“Al’s Raiders may not have won every game, but you knew that you were in for a tough, hard-fought contest every time you played them, regardless of the score.”
”I want to extend my deepest sympathies to Al’s family, friends, the Raiders organization and Raiders fans everywhere.”