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11:37 AM PT -- Officials tell us ... emergency personnel responded to Dusty's home in Orlando, FL at 5:56 AM Wednesday morning after getting a call reporting a 69-year-old male had taken a fall.

We're told Rhodes was transported to a nearby hospital ... where he eventually passed away Thursday morning.

We're told Dusty's immediate family raced to be by his side as soon as they learned he was in the hospital.

Our sources tell us Dusty suffered "numerous complications" throughout the night ... which ultimately proved fatal.

WWE superstar Dusty Rhodes -- famously known as "The American Dream" -- has died at age 69 ... the WWE confirms.

Rhodes -- real name Virgil Runnels -- passed away Thursday morning.

Rhodes, who famously rocked polka dot tights during his legendary career, was inducted into the WWE Hall of Fame in 2007.

Dusty had 4 children -- including two sons who also became wrestling superstars -- Goldust (Dustin Runnels) and Stardust (Cody Runnels).

The WWE issued a statement saying, "WWE extends its sincerest condolences to Runnels’ family, friends and colleagues."