ITV have also released a statement, saying everyone at the network is shocked.
"Everybody at Love Island and ITV is shocked and saddened by this desperately sad news.
"Caroline was a much loved member of the Love Island team and our sincere thoughts and condolences are with her family and friends."
Meanwhile Francis Ridley from Money Talent Management, has paid tribute to the TV star and also hit out at the Crown Prosecution Service (CPS).
He revealed: "We are devastated at the loss of our client and friend Caroline Flack.
“An immensely talented young woman who was at the top of her game professionally and loved by television viewers across the country.
“In recent months Caroline had been under huge pressure because of an ongoing case and potential trial which has been well reported.
“Our thoughts are with Caroline’s family at this time.”
The 40-year-old was due to face court next month on charges of assaulting her boyfriend, Lewis Burton.
Lewis had taken to Instagram to declare his love for Caroline just a day before her death.
"Happy valentines [red love heart] Love you [kissing emoji]" read the photos caption.
The axed Love Island presenter's last Instagram post showed her giving her pet dog Ruby a kiss.
If you or someone you know is experiencing depression call Life Line on 13 11 14 or visit Beyond Blue.