The moviemaker died at the Saint-Antoine hospital in Paris, France following complications from a pulmonary infection.
Famed for adapting novels for the big and small screen, he worked on Marcel Proust's Time Regained, Shakespeare's Richard III and Dante's Inferno in a 1991 TV series.
He also was behind several English language movies, such as Klimt, which starred John Malkovich, and A Closed Book, with Daryl Hannah and Tom Conti.
Producer pal Francois Margolin says, "He was one of our greatest living filmmakers, who left considerable work and will remain a reference in the history of cinema."
After fleeing Chile in the 1960s, Ruiz settled in France and made close to 100 films. He will be buried in his homeland.