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Rob Wilson MP for Reading East said: "My condolences go to the family and friends of Baroness Thatcher, it is dreadful to hear this news.
"This is the passing of one of the huge political figures of the 20th century. She can rightfully be ranked alongside Reagan and Gorbachev internationally.
"She played an instrumental role in bringing down the Berlin Wall and defeating Communism in Eastern Europe and freeing millions of people.
"Churchill was a great and inspirational war time leader, but Mrs Thatcher was pre-eminent amongst the peace time Prime Ministers.
"She changed the terms of economic debate, rolled back the state and told the country about the harsh economic realities it faced. Some loved and admired her, others didn’t, but history will be extraordinarily kind to her as I told her on a number of occasions."
The Queen is sad to hear the news of the death of Baroness Thatcher and Her Majesty will be sending a private message of sympathy to the family, Buckingham Palace said.
Latest ITV News reports
Preparations for Baroness Thatcher's ceremonial funeral are under way as MPs began planning tributes to her in Parliament.
The funeral of former prime minister Baroness Thatcher will be held on Wednesday April 17, David Cameron said