The pair divorced in 1968 and Ferrer married his fourth wife, Elizabeth Soukhotine, in 1971. She survives him.
Ferrer and Hepburn costarred in a television version of "Mayerling," and Ferrer directed Hepburn in the 1959 film "Green Mansions."
He also produced one of Hepburn's greatest film triumphs, 1967's "Wait Until Dark," a terrifying thriller in which she portrays a blind woman terrorized by drug dealers who break into her home.
Born Melchor Gaston Ferrer on Aug. 25, 1917, in Elberon, N.J., Ferrer was the son of a Cuban-born doctor and a socialite mother. He grew up in comfortable surroundings, attending private schools and Princeton University.