Wilson founded the Bills in 1959 as part of the AFL and was president of the club until the end of the 2012 season. His exploits saw him voted to the Pro Football Hall of Fame in 2009.
Bills' president Russ Brandon said in a statement: "I speak for everyone within the Bills organisation when I say that we are all suffering a deep and profound sadness with the passing of our Hall of Fame owner Mr Wilson.
"We have lost our founder, our mentor, our friend, and this is a very difficult time for us all. We extend our deepest sympathies to his wife Mary, his daughters Christy and Dee Dee [Edith], his niece Mary and his entire family.
"Mr Wilson had a relentless passion, a deep love for his Buffalo Bills, the City of Buffalo and the National Football League. He also loved the Bills fans and all of the people of Western New York who embraced the Bills."
The Bills won two AFL championships under Wilson in 1964 and 1965.