She appeared in episodes of TV series such as Everybody Loves Raymond, The A-Team and Seinfeld in her long career.
But Raven will perhaps be best remembered as the "clock tower lady" in 1985's Back To The Future.
She is seen in the film shaking a donations box in front of Marty McFly and his girlfriend Jennifer, urging them to help "save the clock tower".
Raven died on Tuesday at home in Los Angeles, her agent David Shaul confirmed.
Russ Cundiff, producer and co-founder of Divide Pictures, was among those paying tribute on social media, tweeting: "RIP Elsa - you have no idea how much my sister and I loved your role and how many times we quoted you."
Born Elsa Rabinowitz in September 1929, Raven began her acting career on stage in New York City and went on to appear in several Hollywood films.
Raven filmed several scenes for 1997's Titanic, which starred Leonardo DiCaprio and Kate Winslet.
Most of her scenes were cut from the feature film, but they were used in the music video for Celine Dion's My Heart Will Go On, the movie's theme song.
Raven can be seen in the video as one half of the older couple who embrace on the bed as water is pouring into their cabin.
Her other roles included the estate agent who sold the house in The Amityville Horror, John Malkovich's landlady in In The Line of Fire and Gertrude Stein in The Moderns.
The actress's biggest TV roles included Inga the Swedish maid on Amen, Lucille on Days of Our Lives, and Tugboat Tessie on General Hospital.
She also appeared in several sitcoms including 3rd Rock From The Sun, as Aunt Florence, and The Fresh Prince of Bel-Air, and played multiple roles in Quincy ME during its seven year run, including a nurse and a judge.
Raven was a member of The Academy of Motion Picture Arts and Sciences, the body which awards the Oscars.
Her final acting role was in 2011, when she played Mrs Harrison in Answers To Nothing.