Larsen died of natural causes in Los Angeles on Sunday, according to a representative.
In 1963, Larsen co-founded the Magic Castle which has remained a world-famous private club for magicians. He served as president of Magic Castles, Inc. until his death.
Aside from his accomplishments in the world of magic, Larsen was a writer who worked on "Truth or Consequences" with Bob Barker. He also authored five joke books.
Over the years, Larsen also worked as a songwriter, producer, radio personality and a historian.
He is survived by his wife, Arlene Larsen, his nephew, niece and great-nieces.