As per the Daily Mail, Tabby's former manager confirmed her passing on Tuesday, with the cause of death unclear.
Tabby, who grew up in south London and worked as a model for Playboy, became well known to English audiences after starring on the Channel 5 dating show 'The Bachelor'.
She was also a dancer and featured in music videos for Snoop Dogg, Dizzie Rascal and B.O.B, as well as advertisements for Canon, Virgin Atlantic, AXE and Lynx.
Chelsea player Sterling was rumoured to be in a relationship with Tabby when he was still on the books at Manchester City in 2016, as the pair were pictured leaving the Lowry Hotel together after a date.
Former City star Balotelli, meanwhile, dated Tabby for seven months in 2011.
Tributes have been pouring in on social media following her death, with musician NayNay saying in a statement: "What a light you were, your outer exterior matched your insides, so beautiful. I'm genuinely shocked and saddened you're gone. Rest in eternal peace Tabby."
Vas J Morgan, star of The Only Way is Essex, added: "My heart is broken."
Bereaved friends and family have also paid their respects under Tabby's last Instagram photo, which was posted in February 2022.
One described her as a "true angel", while another said: "Rest in peace beautiful, this definitely came as a shock. My sincere condolences to your family and friends."