Former Israeli president and Nobel Peace Prize winner Shimon Peres has died in Tel Aviv aged 93, triggering an outpouring of grief for the elder statesman.

Mr Peres was hospitalised following a major stroke two weeks ago and had made some progress before a sudden deterioration in his condition on Tuesday (local time).

He died around 3:00am surrounded by family members, Mr Peres's personal doctor and son-in-law Rafi Walden said.

His family held a press conference later in the morning, praising Mr Peres's tireless work ethic and what they called his devotion to peace.

"He had no interest other than serving the people of Israel," said his son Chemi, his eyes moist as he read a letter on behalf of the family at the hospital.

US President Barack Obama immediately hailed Mr Peres as a friend who "never gave up on the possibility of peace".

"There are few people who we share this world with who change the course of human history, not just through their role in human events, but because they expand our moral imagination and force us to expect more of ourselves," he said.

"My friend Shimon was one of those people."

Former US president Bill Clinton, who helped usher in the Oslo peace accords of the 1990s, said "the Middle East has lost a fervent advocate for peace and reconciliation".

"I'll never forget how happy he was 23 years ago when he signed the Oslo accords on the White House lawn, heralding a more hopeful era in Israeli-Palestinian relations," Mr Clinton said in a statement.

Israeli Prime Minister Benjamin Netanyahu expressed his "profound sadness" and opposition leader Isaac Herzog, the head of Labour, Mr Peres's longtime party, said he will be "forever remembered as an icon of Israel's history".

Australian leaders pay tribute

Prime Minister Malcolm Turnbull said Mr Peres was a fierce defender of Israel, but also a "tireless advocate" for peace.

Opposition Leader Bill Shorten called him a "towering figure" of both the 20th and 21st centuries.

Mr Peres held nearly every major office in the country, serving twice as prime minister and also as president, a mostly ceremonial role, from 2007 to 2014.

He won the 1994 Nobel Peace Prize jointly with prime minister Yitzhak Rabin and Palestinian leader Yasser Arafat for his role in negotiating the Oslo Accords, which envisioned an independent Palestinian state.

The former hawk turned dove was widely respected both in Israel and abroad.

Mr Peres had been in hospital near Tel Aviv since September 13, when he was admitted feeling unwell and suffered the stroke with internal bleeding. He had been under sedation and respiratory support in intensive care.

But there were signs of improvement last week, and on September 18 Mr Peres's office said doctors planned to gradually reduce his sedation and respiratory support to judge his response.

Mr Walden had said at the time that Peres had seen "very slow, moderate improvement".

Key dates in life of Shimon Peres 1923: Born August 2 in what was Poland, and is now Belarus

1923: Born August 2 in what was Poland, and is now Belarus 1934: Arrival in British mandatory Palestine

1934: Arrival in British mandatory Palestine 1959: Elected a member of parliament for Mapai, which would later become the Labour party

1959: Elected a member of parliament for Mapai, which would later become the Labour party 1984-1986: PM of Labour-Likud unified government

1984-1986: PM of Labour-Likud unified government 1993: Oversees negotiations with Palestine Liberation Organisation, which lead to the signing of the Oslo accords

1993: Oversees negotiations with Palestine Liberation Organisation, which lead to the signing of the Oslo accords 1994: Awarded Nobel Peace Prize alongside other leaders for their role in the Israeli-Palestinian peace process

1994: Awarded Nobel Peace Prize alongside other leaders for their role in the Israeli-Palestinian peace process 1995: Succeeds Yitzhak Rabin after his assassination as premier and head of the Labour party

1995: Succeeds Yitzhak Rabin after his assassination as premier and head of the Labour party 2007: Elected Israel's ninth president in June

2007: Elected Israel's ninth president in June 2014: Stands down as president nine days before 91st birthday

But on Tuesday a source said his condition had taken a downturn and he was "fighting for his life". Family members arrived at the hospital.

In January, Mr Peres was hospitalised twice because of heart trouble.

In the first case, the hospital said he had suffered a "mild cardiac event" and underwent catheterisation to widen an artery.

He was rushed to hospital a second time just days later with chest pains and an irregular heartbeat.

Mr Peres had sought to maintain an active schedule despite his age, particularly through events related to his Peres Centre for Peace.

When leaving hospital in January, Mr Peres said he was keen to get back to work.

"I'm so happy to return to work, that was the whole purpose of this operation," he said.

Born in Poland in 1923, Mr Peres emigrated to what was then British-mandated Palestine when he was 11.

He joined the Zionist struggle and met David Ben-Gurion, who would become his mentor and Israel's first prime minister.

Mr Peres became director general of the nascent defence ministry at just 29 years old.

Beyond his accomplishments in the public eye, he was also seen as a driving force in the development of Israel's undeclared nuclear program.

Mr Peres once confided that the secret to his longevity was daily exercise, eating little and drinking one or two glasses of good wine.

AFP