"It is with a heavy heart that I must share the devastating news that my beautiful daughter Lisa Marie has left us," her mother Priscilla Presley said in a statement on Thursday.
"She was the most passionate, strong and loving woman I have ever known."
The announcement came just hours after Priscilla Presley had confirmed that Lisa Marie Presley was rushed to the hospital.
Los Angeles County paramedics were dispatched to a Calabasas home at 10.37am following a report of a woman in full cardiac arrest, according to Craig Little, a spokesperson for the county's fire department.
TMZ showed a photo of Priscilla Presley arriving at the hospital to be with her daughter.
Lisa Marie Presley was born in 1968 and is the owner of her father's Graceland mansion in Memphis, a popular tourist attraction. She was nine years old when Elvis died at Graceland in 1977.
Her own music career began with a 2003 debut album To Whom It May Concern. It was followed by 2005's Now What, and both hit the top 10 of the Billboard 200 album chart.
A third album, Storm and Grace, was released in 2012.
On Tuesday, Lisa Marie and Priscilla Presley attended the Golden Globes ceremony in Beverly Hills, where Austin Butler won best actor in a drama film for his leading role in last year's Elvis biopic.
As he accepted the award, Butler thanked both of the women, saying, "I love you forever."
AP and Reuters
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