On Friday, a statement was released asking fans and friends to "keep Verne in your thoughts and prayers. He's getting the best care possible and is resting comfortably."
On his Instagram profile, a statement reads:
"It is with great sadness and incredibly heavy hearts to write that Verne passed away today.
"Verne was an extremely caring individual. He wanted to make everyone smile, be happy, and laugh.
"Anybody in need, he would help to any extent possible. Verne hoped he made a positive change with the platform he had and worked towards spreading that message every day."
The post continues to talk about how he inspired those around him.
Troyer was well-known around the world for his work in the Austin Powers series, commercial shoots, comic-con appearances, his YouTube channel and his brief appearance as Griphook the goblin in Harry Potter and the Philosopher's Stone.
Donations are being made to his favourite charities, The Starkey Hearing Foundation and Best Buddies.