Friend and sports analyst Ron Fournier says Bouchard was surrounded by his family when he died.
The defenceman scored 49 goals in 785 games during his 15-year NHL career, captaining the Habs for eight seasons before retiring in 1956.
The Canadiens won the Stanley Cup four times while Bouchard was with the team, twice while he was captain.
"He was one of the great captains in the history of the Canadiens," Rejean Houle, the Habs alumni president, who played with the Canadiens in the 1970s and 80s, said in an interview Saturday.
"It was a period where the team really became a dynasty."