The former BBC Breakfast host died on Wednesday at the age of 66, after battling prostate cancer.
A spokesperson for the family said he passed away peacefully at his home in Suffolk surrounded by his family.
"I feel lucky to have worked with him and he taught me everything," said Reid, who worked with Turnbull on BBC Breakfast.
"But above all, he was devoted to his family and I am heartbroken for them. RIP Bill. We will miss you so much."
Lord Sugar wrote: "Sadly Bill Turnbull has passed he was a great presenter and a nice guy R.I.P."
Bill was the kindest, funniest, most generous man in the business. I feel lucky to have worked with him and he taught me everything.
But above all, he was devoted to his family and I am heartbroken for them. RIP Bill. We will miss you so much. https://t.co/RyfhBoE9O2
— Susanna Reid (@susannareid100) September 1, 2022
Simpson tweeted: "Very sorry to hear of the death of my former colleague Bill Turnbull.
"He was charming and relaxed, and managed to combine being a clever, sharp reporter with sympathetic understanding as an interviewer.
"And he faced a vicious disease with great courage."
Piers Morgan shared a picture of the late star, saying it was "such sad news".
"RIP Bill Turnbull, 66," he tweeted.
"One of the best broadcasters in Britain, and such a smart, funny, warm & generous-spirited man.
"Fought his illness with typical stoicism, courage and humour. Bill made presenting live TV look so effortless, which was his great talent.
"Such sad news."
TV presenter Lorraine Kelly said Turnbull was "a fine fella", while his fellow former BBC Breakfast star Dan Walker posted on Twitter: "Bill Turnbull was so kind and generous when I took over from him on BBC Breakfast.
"He was full of brilliant advice and it was clear just how loved he was by his colleagues and the audience.
"It was an honour to sit on his sofa."
"My thoughts are with his family and friends," he added.
Sports presenter Mike Bushell tweeted: "We are numb devastated by the passing of dear friend and former colleague #billturnbull @BBCBreakfast legend, my mentor 20 years ago, incredible talent to move from the harder news of the day to lighter stories with his clever wit warmth, our love, thoughts with his family."
TV star Rob Rinder said Turnbull was "a truly lovely, bright & decent human".
GMB's Alex Beresford shared a clip of Turnbull teaching him some yoga and wrote: "I had the absolute honour of working with Bill Turnbull a handful of times and as you’ll see below he was strong, flexible, professional and warm! RIP."
BBC Breakfast - which Turnbull was on from 2001 to 2016 - also remembered the presenter.
"He was loved by our viewers," the show tweeted. "He was loved by his colleagues.
"Bill will always be remembered for his warmth, humour and being a brilliant journalist."
Former BBC Breakfast presenter Bill Turnbull has died. He was 66.
He was loved by our viewers. He was loved by his colleagues.
Bill will always be remembered for his warmth, humour and being a brilliant journalist. pic.twitter.com/43h1conEQO
— BBC Breakfast (@BBCBreakfast) September 1, 2022
Turnbull had been diagnosed with cancer in 2017.
He shared his diagnosis in March 2018.
Watch: Dame Deborah James: Cancer campaigner lived a full life 'with no regrets'