Manila, Aug 1 (DPA) Philippine democracy icon and former president Corazon Aquino, who led a 'people power' revolt that toppled one of the world's most corrupt dictators, died Saturday after battling colon cancer for more than a year, her family said. She was 76.

Cory, as people fondly called her, had been hospitalised in the Makati Medical Centre in Manila since late June after her health deteriorated and the cancer spread to other parts of her body.

'Our mother peacefully passed away at 3.18 a.m. Aug 1, 2009, of cardio-respiratory arrest,' Senator Benigno 'Noynoy' Aquino III said.

'She would have wanted us to thank each and everyone of you for all the prayers and your continued love and support,' he added. 'It was her wish for all of us to pray for one another and for our country.'

In her death, former president Aquino was hailed for her role in toppling the 20-year dictatorship of late strongman Ferdinand Marcos during the four-day 'people power' revolution in February 1986.

'Today, the Philippines lost a national treasure,' President Gloria Macapagal Arroyo said in a statement released from Washington where she was on an official visit.

'Cory Aquino helped lead a revolution that restored democracy and the rule of law to our country at a time of great peril,' she added. 'I am announcing today that we will officially observe a 10-day period of national mourning.'

Flags in the Philippines were flown at half-mast following Aquino's death, while people left flowers outside her home in the Manila suburban city of Quezon and the military performed a gun salute in honour of the late president.

Yellow ribbons adorned street lamps, gates, cars and buildings all over the Philippines to commemorate the colour that symbolised Aquino's fight against Marcos.