The actress had been suffering from breast cancer before passing away at her home in Shermon Oaks, California.
Julia Strassman, Marcia’s sister, confirmed the sad news on Sunday.
Honey, I Shrunk The Kids director Bob Weide was one of the first to honour the late actress following her tragic death.
He took to Twitter, writing: "So sad that a sweet friend, kind person & wonderful actress Marcia Strassman lost her brave battle with cancer today."
Singer Cher also payed her respects through a message on the social networking site.
The first Honey, I Shrunk The Kids film came out in 1989, making over $222 million at the box office.
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The film was followed by a sequel- Honey, I Blew Up The Kid- which saw Marcia’s onscreen inventor husband accidentally grows the couple’s young son into a giant.
Marcia also reprised her role from the hit movies for Disney’s interactive ride ‘Honey, I Shrunk The Audience’.
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