The actor-producer took his last breath at the Kokilaben Dhirubhai Ambani Hospital here.
"Yes, he has passed away. He had a kidney problem and was on dialysis for several years," his nephew Randhir Kapoor, the son of the late Raj Kapoor, told PTI.
President Ram Nath Kovind and Prime Minister Narendra Modi condoled the death of the popular actor.
"Sorry to hear of the demise of Shashi Kapoor, well-known actor, with a repertoire of Indian and international films. His support for meaningful cinema as a producer and pivotal role in the theatre movement in India too are cherished. Condolences to his family," said Kovind in a message on Twitter.
"Shashi Kapoor's versatility could be seen in his movies as well as in theatre, which he promoted with great passion. His brilliant acting will be remembered for generations to come. Saddened by his demise. Condolences to his family and admirers," Modi tweeted.
Randhir Kapoor said the funeral would be held in the morning tomorrow.
"Shashi Kapoor expired at 5:20 pm on December 4 at Kokilaben Hospital in Mumbai," Dr Ram Narain from the hospital told PTI.
Union Minister of Information and Broadcasting Smriti Irani said Kapoor's death was "the end of an era".
Director Shyam Bengal described him as "god's good man" and a beautiful human-being.
"He was god's good man and a beautiful human-being beyond anything else," Benegal, who worked with the late actor in "Kalyug" and "Junoon", told PTI.
Born on March 18, 1938, to the illustrious and formidable theatre and film actor Prithviraj Kapoor, Shashi Kapoor hit the spotlight at the age of four, acting in plays directed and produced by his father. He started acting in films as a child artiste in the late '40s.
He made his debut as a leading man in the 1961 film "Dharmputra" and went on to appear in more than 116 films during the '70s and until the mid '80s.
Among his memorable films were "Deewar", "Kabhie Kabhie", "Namak Halal" and "Kaala Pathar".
He was honoured with the Padma Bhushan in 2011 and received cinema's prestigious Dada Saheb Phalke award in 2015.
Disclaimer: No Business Standard Journalist was involved in creation of this content
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