She was 68 years old.
According to Variety, Zazula died after battling cancer.
"The world of music owes a debt of gratitude to Marsha Zazula, who along with her husband Jon gave birth to some of the most musically significant artists," Megaforce said in a statement.
"Marsha was one of a kind and taught the world to be fiercely independent. Megaforce and our artists will never forget her. In our hearts she will always be a guiding force. R.I.P."
Zazula and her husband Jon in 1982 co-founded Megaforce Records, which released the first music albums for Anthrax, Metallica, Kiss guitarist Ace Frehley and more.
The Zazulas frequented metal concerts and are well-known in the music arena.
Jon was the owner of New Jersey's Rock'n Roll Heaven record store in East Brunswick.
Click here to follow Daily Voice Fort Lee and receive free news updates.