Shortly after the news broke, Hoffman's colleagues and friends shared their condolences and mourned his loss on Twitter.
The critically acclaimed actor's illustrious career spanned more than two decades and he won the Oscar for Capote. He also garnered three Tony nominations for his performances on stage.
He was also nominated for three additional Oscars for his revered work in The Master, Doubt and Charlie Wilson's War.
Let's take a look back at some of the accomplished thespian's most memorable roles:
Capote: Perhaps Hoffman's most well-known role was as author Truman Capote in the 2005 biopic Capote. He won the Golden Globe, SAG Award and Oscar.
The Savages: Hoffman and Laura Linney portrayed siblings taking on the responsibility of caring for their ailing father in the 2007 comedy-drama.
Boogie Nights: Hoffman broke our hearts as Scotty J., a gay boom operator hopelessly in love with Mark Wahlberg's porn star Dirk Diggler, in Paul Thomas Anderson's 1997 drama.
Charlie Wilson's War: Hoffman's role as maverick CIA agent Gust Avrakotos earned him an Oscar nomination for Best Supporting Actor.
Moneyball: Hoffman portrayed disgruntled Oakland Athletics coach Art Howe and went head-to-head with Brad Pitt in the baseball flick.
The Hunger Games: Catching Fire: Hoffman planned an unforgettable 75th Annual Hunger Games as Head Gamemaker Plutarch Heavensbee in the action-adventure thriller.