On 27 September 2008, Ledger's father Kim stated that "the family has agreed to leave the US$16.3 million fortune to Matilda," adding: "There is no claim. Our family has gifted everything to Matilda." In October 2008, Forbes estimated Ledger's annual earnings from October 2007 through October 2008 – including his posthumous share of The Dark Knight's gross income of "US$1 billion in box office revenue worldwide" – as "US$20 million".
For his portrayal of Ennis Del Mar in Brokeback Mountain, Ledger won the New York Film Critics Circle Award for Best Actor and the Best International Actor Award from the Australian Film Institute; he was the first actor to win the latter award posthumously. He was nominated for the BAFTA Award for Best Actor in a Leading Role and the Academy Award for Best Actor. Posthumously, he shared the 2007 Independent Spirit Robert Altman Award with the rest of the ensemble cast, the director, and the casting director for the film I'm Not There, which was inspired by the life and songs of American singer-songwriter Bob Dylan. In the film, Ledger portrayed a fictional actor named Robbie Clark, one of six characters embodying aspects of Dylan's life and persona.
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According to the police, Wolozin, who had arrived early for a 3:00 pm appointment with Ledger, called Ledger's friend Mary-Kate Olsen for help. Olsen, who was in California, directed a New York City private security guard to go to the scene. At 3:26 pm, "less than 15 minutes after she first saw him in bed and only a few moments after the first call to Ms. Olsen", Wolozin telephoned 9-1-1 "to say that Mr. Ledger was not breathing". At the urging of the 9-1-1 operator, Wolozin administered CPR, which was unsuccessful in reviving him.
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Ledger died on the afternoon of 22 January 2008 due to a drug overdose. A few months before his death, Ledger had finished filming his performance as the Joker in The Dark Knight. At the time of his death, The Dark Knight was in its editing-phase and The Imaginarium of Doctor Parnassus was in the midst of filming, in which he was playing his last role as Tony. His untimely death also affected the subsequent promotion of The Dark Knight. His role as the Joker in The Dark Knight earned him widespread acclaim and popularity from both fans and critics alike, and is often regarded as one of the greatest performances in film history. Ledger also received numerous posthumous accolades for his performance in The Dark Knight, including the Academy Award for Best Supporting Actor, a Best Actor International Award at the 2008 Australian Film Institute Awards, the 2008 Los Angeles Film Critics Association Award for Best Supporting Actor, the 2009 Golden Globe Award for Best Supporting Actor – Motion Picture, and the 2009 BAFTA Award for Best Supporting Actor.
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"Some people find their shtick," Ledger reflected on the categorisation of style. "I never figured out who 'Heath Ledger' is on film: 'This is what you expect when you hire me, and it will be recognisable'... People always feel compelled to sum you up, to presume that they have you and can describe you. That's fine. But there are so many stories inside of me and a lot I want to achieve outside of one flat note."