Friar’s association with the club stretched more than eight decades, starting officially when he joined Arsenal’s box office in 1950.
He went on to become club secretary in 1973 and ten years later he was appointed managing director, a role Arsenal described as “effectively running the football club”.
Friar played a leading role in overseeing Arsenal’s move from Highbury to the Emirates Stadium.
He received an OBE in 2000 for services to football and four years later was awarded the Freedom of the Borough of Islington.
After stepping down as executive director in 2020, he was appointed life president at Arsenal.
“It is with profound sadness that we announce the death of Life President Ken Friar OBE,” the Gunners said in a statement.
“Since our formation in 1886, there have been many inspirational individuals who have driven our club forward, but no one has had an influence on Arsenal Football Club quite like ‘Mr Friar’ and he leaves an extraordinary life of service to the club as his legacy.
“One that will surely never be matched. Rest in peace.”
There are already permanent reminders of the influence Friar has had on the club.
The Ken Friar Bridge stands outside the Emirates Stadium, along with a statue of him playing football as a boy.
Arsenal will wear black armbands for their Champions League match at home to Lille on Tuesday night.
It has been agreed with Friar’s family that further commemorations and tributes will then take place at Arsenal’s next home fixture, against Everton on October 24.