Paul Schofield, a Hull tour guide and historian, said his friend – who took on the civic role more than 20 years ago – would be “greatly missed”.
“Michael was a real champion of Hull and East Yorkshire,” he said.
“He really was larger than life.”
Schofield said he would forever remember Wood for his enthusiastic performance at University of Hull graduation ceremonies.
“Michael brought fun and real ceremony to the occasion every year,” he said. “And I can truly vouch for the loudness of his voice.”
Wood said his finest hour was winning the 2nd Millennium World Town Crier Championship, held in Gent, Belgium, in 2000.
In 2001, he was made the unlikely town crier of Hollywood.
Speaking at the time, he told the BBC: “It really was a disappointment, as a tourist, as nothing was gelling together.
“With Hollywood as a background, there was so much more they could do.”
Wood wrote to local business bosses and was rewarded with a contract to spend the summer on Hollywood Boulevard greeting visitors.
He said the sun shone every day, noting it was “a little bit better than Yorkshire weather”.