91-year-old Lee, who dominated Singapore politics for more than half a century, today died in a hospital here after a prolonged illness.
US President Barack Obama praised Lee as a visionary and "true giant of history".
"A visionary who led his country from Singapore's independence in 1965 to build one of the most prosperous countries in the world today, he was a devoted public servant and a remarkable leader," Obama said.
UN secretary-general Ban Ki-moon called Lee a "legendary figure in Asia".
Remembering Lee, UK Prime Minister David Cameron said, "Lee personally shaped Singapore in a way that few people have any nation. He made his country into one of the great success stories of our modern world. That Singapore is today a prosperous, secure and successful country is a monument to his decades of remarkable public service."
"His place in history is assured, as a leader and as one of the modern world's foremost statesmen," he said.
Chinese President Xi Jinping praised Lee as an "old friend of the Chinese people".
Xi said Lee, who was ethnically Chinese, was "widely respected by the international community as a strategist and a statesman".
Hong Kong Chief Executive C Y Leung, in a condolence letter to Lee's son and Singapore Prime Minister Lee Hsien Loong said, "His legacy of how to build a thriving, proud, diverse and dynamic country will live on for generations, not just in Singapore or Asia, but the world over."
Malaysian Prime Minister Najib Razak paid tributes to Lee for developing the tiny island city into a "modern and dynamic nation".
"I pay tribute to Lee Kuan Yew's determination in developing Singapore from a new nation to the modern and dynamic city we see today. His achievements were great and his legacy assured," Najib said.
Australian Prime Minister Tony Abbott said, "Our region owes much to Lee Kuan Yew."
Rights groups, however, said Lee's death should open the door to greater political freedom in Singapore, where opposition leaders have been jailed, or forced to leave the country.
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