The artist's French publisher Casterman announced his death on its website, adding that he had been seriously ill, as it expressed its deep condolences to his family.
Taniguchi first shot to fame in Japan at the end of the 1980s with the first volume of "The Times of Botchan", which centres around Natsume Soseki, one of Japan's greatest writers.
Just over a decade later, he hit the international manga scene with "A Distant Neighbourhood", about a Japanese salaryman who travels back to his childhood -- widely seen to this day as his masterpiece.
Critics have also praised his gentle subject matter for standing in stark contrast to the usual fare of high school romance or sometimes violent pornography consumed by some of Japan's manga fans.
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In works such as "The Walking Man", the protagonist is occupied less by any specific action as with a fascination with aspects of everyday life -- the things he finds, the scenes he sees and the people he meets on his strolls through suburban neighbourhoods.
Taniguchi's detailed landscapes populated by vaguely cartoonish characters drew comparisons in the West with some of the better-known European comic heroes, such as Tintin.
He became especially popular in France, one of the biggest markets for graphic art.
"He was seen by French readers, illustrators and publishers as a god, while he presented himself as a regular guy," fellow manga artist Tori Miki said on Twitter.
In 2011, the French government awarded Taniguchi the Knight of the Order of Arts and Letters -- one of the country's most prestigious prizes.
Four years later, the annual cartoon festival in the French city of Angouleme held a retrospective of his work.