Davis had been with MAD since its first run in 1952, and his illustrations helped define the look of satirical art for generations.
He died at age 91.
Davis drew his last MAD cover in 1995, and his work has been frequently reprinted in the magazine to the present day.
A spokesman for the magazine, which began as a comic book in 1952, said a list of his "most legendary pieces would run to several pages in length".
He added: "Among his most iconic parodies from MAD's comic book days are of The Lone Ranger and High Noon.
"From the magazine, his notable parodies include spoofs of Raiders of the Lost Ark, Gone with the Wind, and M*A*S*H."
The magazine's editor John Ficarra said there "wasn't anything Jack couldn't do".
"Front covers, caricatures, sports scenes, monsters – his comedic range was just incredible.
"His ability to put energy and motion into his drawings, his use of cross-hatching and brush work, and his bold use of colour made him truly one of the greats."