He was 89.
Mr Bédié took over as the country’s second head of state after the death of Felix Houphouet-Boigny in 1993.
But allegations of widespread corruption and an economic slump led to him being ousted in a military coup in 1999.
Despite being born into a relatively poor family, he excelled at school and was picked to study in France were he gained a doctorate in economics.
He attempted to return to power three years ago but was defeated by his long-time political rival President Alassane Ouattara.
The cause of Mr Bédié‘a death is unknown.
His death will be felt as a big loss for the whole country.
Despite his rivalry with President Ouattara, he was mostly seen as a wise man who always cherished peace and an advocate for national unity.
Many Ivorians are paying tribute to him on social media.