Novotna won 24 singles titles, including 1998 Wimbledon beating the French player Nathalie Tauziat.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. But it was the highlight of her singles career that came to define her.
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Her highly successful career spanned 14 years in which Novotna picked up 100 titles including 76 doubles crowns. Wearing her distinctive headband, she won doubles titles at all four Grand Slam tournaments. "Her star will always shine brightly in the history of the WTA", WTA Chief Executive Steve Simon said in a statement.
Novotna also has three Olympic medals - silver in women's doubles event at the 1988 Seoul Games, silver in the women's doubles at the 1996 Atlanta Games and a bronze in mixed-doubles event in the same Games. "Our condolences and our thoughts are with Jana's family", he said.
It was her third time of asking at SW19 having lost in finals to Steffi Graf in 1993 and Martina Hingis in 1997, and she also reached the 1991 Australian Open final only to lose to Monica Seles.