The sports entertainment company announced Wednesday that Patterson passed away at the age of 79.
A longtime employee of the WWE, Patterson was hailed as a pioneer for the LGBT community within the sport.
Even though his coming out was long-known within wrestling circles, Patterson chronicled his life in the industry in his 2016 autobiography "Accepted: How the First Gay Superstar Changed WWE."
Additionally, the Canada-born Patterson is forever known as WWE's first-ever Intercontinental Champion, a prestigious title outside of the company's world championship, and the creator of one of the company's most unique matches, the 30-person "Royal Rumble" match.
"In a career spanning six decades, the renaissance man left an indelible mark on the industry in the ring, on the microphone and behind the scenes," WWE stated, alluding to his one-time stint as TV color commentator and his latter day role as a match producer and consultant.
He wrestled from 1958 until 1984, but still remained a fixture of WWE's televised programming, regularly appearing alongside company chairman Vince McMahon.
"In his 25-plus years in WWE, Patterson was synonymous with making history," WWE said.