The much-loved award winning star, who first appeared in the show 35 years ago, died in hospital in Salford, Greater Manchester.
She had pulled out of filming on the long-running show in October after being admitted to hospital for major surgery.
She won several comedy awards for playing Blanche, although she only became a regular cast member in 1999 after numerous occasional appearances.
A publicist for the show confirmed her death today and said she had died at the Salford Royal Hospital.
The spokeswoman said: "Maggie had been making a slow recovery but her condition deteriorated early Wednesday morning and she passed away peacefully in her sleep."
Colleague William Roache, who played Ken Barlow, said: "Maggie was a big part of the Barlow family and a brilliant actress.
"She was a tower of strength, physically frail but mentally strong as an ox and sharp as someone half her age.
"She had an amazing dry wit and was as funny if not funnier than Blanche. We were great crossword partners, we sat through Tracy's trial scenes doing the crossword together.
“She will be greatly missed."
Jones appeared in more than 830 episodes.
Programme bosses wrote her character out of the show to allow her to recover from her illness and producer Kim Crowther had recently spoken of how they were looking forward to her return.
Jones made her TV debut on the show in the early 1960s as a policewoman, and later returned as a shoplifter.
More than a decade later she was back to play Blanche, the second actress to take the role following the death of Patricia Cutts.
Corrie’s executive producer, Kieran Roberts, said: "Maggie was a much-loved colleague and a wonderful actress who turned Blanche into a true Coronation Street icon.”
Jones trained at the Royal Academy of Dramatic Arts and she performed West End productions of The Women and Pride And Prejudice and had numerous TV roles.
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