The actor passed away on Monday at his daughter Iya Gaynes Falcone Brown's home in North Bend, Washington, reported Variety.
The character actor is best known for playing Commandant Eric Lassard and the grouchy foster parent Henry Warnimont on the 1980s sitcom "Punky Brewster".
Gaynes also starred opposite Dustin Hoffman in the 1982 film "Tootsie," which received 10 Academy Award nominations.
His other movie credits include "The Way We Were," "Altered States" and "Wag the Dog".
The other TV shows he appeared in were "The Defenders," "Mission: Impossible," "Bonanza," "The Six Million Dollar Man" and "Hawaii Five-0".
He retired in 2003 and lived in Santa Barbara, California, before moving to Washington to stay with his daughter's family.
Gaynes is survived by his wife, actress Allyn Ann McLerie, a daughter, one granddaughter and two great-granddaughters.