Her manager Gina Rugolo announced the sad news, confirming that Elizabeth died in LA on Tuesday from natural causes. No further details have been provided.
Tributes have already started to pour in for the actress, with countless stars and fans remembering her on Twitter.
Former Desperate Housewives actress Eva Longoria wrote, "Rest in peace Elizabeth Pena… you paved the way for so many of us!!"
Rest in Peace Elizabeth Pena...you paved the way for so many of us!! http://t.co/IiGf6JuxGf— Eva Longoria (@EvaLongoria) October 16, 2014
Pregnant Zoe Saldana also spoke of her grief. "My heart is broken!!! My prayers are with you and your family. We will miss you #ElizabethPena – ZS."
Elizabeth appeared in a number of films including Lone Star and Rush Hour, and was known for her roles in TV shows like Modern Family, in which she played the mother of Sofia Vergara’s character Gloria.
She also lent her voice to The Incredibles and American Dad.
My heart is broken!!! My prayers are with you and your family. We will miss you #ElizabethPena –ZS— Zoe Saldana (@zoesaldana) October 16, 2014
Most recently, she played the mother of the title character on the El Rey network drama, Matador.
"We are deeply saddened by the passing of our friend and colleague Elizabeth Peña," the network spokesperson said in a statement. "She was a role model, a truly extraordinary performer and an inspiration in every sense of the word.
"Our thoughts are with Elizabeth’s family and friends during this difficult time. She will be deeply missed."
Elizabeth leaves behind her husband Hans and their two children.