Sharman suffered a stroke last week and died at his home in Redondo Beach, Calif., his wife told the Los Angeles Times.
Sharman was twice inducted into the National Memorial Basketball Hall of Fame. He was voted in as player in 1976 and in 2004 as a coach. John Wooden and Lenny Wilkens are the only other player-coach inductees.
In 1996, Sharman was among the players named among the 50 Greatest Players of All Time, when the NBA marked its 50th anniversary.
Sharman was an eight-time All-Star (1953-60) and helped the Boston Celtics to NBA championships in 1957, '59, '60 and '61 as a player.
He is the only coach to lead teams to titles in three leagues, taking the Cleveland Pipers to the ABL banner in 1962, the Utah Stars to the ABA title in 1971 and the Los Angeles Lakers to the NBA championship in 1972.
The 1971-72 Lakers team won 33 consecutive games en route to 69 wins, an NBA record until the Chicago Bulls went 72-10 in 1995-96.
He coached for seven NBA seasons, building a record of 333-240.