Anderson, who co-created the marionette puppet show with her late ex-husband Gerry, passed away at her UK home, according to a statement on her official website.
Debuting on British television screens in 1965, "Thunderbirds" followed a secret rescue performing organisation and its elegant Lady Penelope character, who was driven around in a pink Rolls-Royce, was modelled on Anderson.
The show aired for just two seasons but has gained a huge following since.
"Sylvia was a mother and a legend - her intelligence was phenomenal but her creativity and tenacity unchallenged," her daughter Dee Anderson wrote on the site.
"She was a force in every way, and will be sadly missed."
Born to a boxer and dressmaker from south London in 1927, Anderson also worked on television shows such as "Stingray" and "Joe 90".
Her former husband Gerry Anderson died in 2012.
