President Arroyo "expresses deep condolences to the Reagan family and the American people," her office said in a statement.
"The world will always remember the late statesman as a towering pillar of world stability, as a leader stressing on family values and patriotism" Mrs. Arroyo said, referring to Reagan, who died at 93 after a decade-long battle with Alzheimer’s disease.
Former First Lady Imelda Marcos earlier offered a wreath for Reagan in front of the US Embassy in Manila and said the deceased American leader was "a loyal friend."
Marcos, known worldwide for her 3,000 pairs of shoes, braved the drizzle and read a statement hailing Reagan.
"The world will always remember that it was during President Reagan’s presidency that we saw the end of the Cold War," she said.
It was also during Reagan’s presidency that her husband, the dictator Ferdinand Marcos, was toppled by the 1986 EDSA people power revolt. He went into exile in Hawaii, where he died three years later.
The dictator is accused of stealing an estimated $10 billion from government coffers and causing the deaths of thousands of opponents of his regime.
He died in Hawaii in 1989 and his wife and children were allowed to return to the Philippines, where they still wield considerable political influence.
The Marcos couple were personal guests of the Reagans at the White House in 1981.
"Even during our exile in Hawaii, (Reagan) remained a loyal friend," Marcos said. "He and Nancy called several times, sincerely concerned of what happened to us and even made it known that he was against what the bureaucrats did to the Marcoses."
Mrs. Marcos and the Marcos estate have faced hundreds of corruption cases over the years. The Marcos estate lost a class-action lawsuit for human rights violations to 9,539 Filipinos, who were awarded $2 billion in compensation by the federal district court of Hawaii. None of the complainants has received any money yet. — AFP