"Bill passed away peacefully at his home in California" on Tuesday, his family said in a statement posted Wednesday morning on Facebook. "A beloved partner, big brother, uncle, surrogate parent, godfather and friend, Bill recently and happily celebrated his 90th birthday surrounded by cherished loved ones. As a family we are comforted knowing Bill has found peace and eternal rest with his Heavenly Father. We ask for your prayers and encouragement during this time."
The cause of death was not immediately known.
Cobbs' career was marked by nearly 200 roles in movies and television.
He starred opposite Whitney Houston and Kevin Costner in 1992's "The Bodyguard," and appeared with Paul Newman and Tom Cruise in Martin Scorsese's 1986 film "The Color of Money."