Adalat Khan, leader of Qaumi Watan Party, was targeted with a remote control device when he was on his way to a court in Buner district in Khyber-Pakthunkhwa province.
DIG Malakand Abdullah Khan said politician and his two other accomplice were killed.
Former Interior Minister Aftab Ahmed Khan is central Chairman of the QWP.
Police have cordoned off the area and have started collecting evidence from the blast site. The injured were shifted to the nearby hospital.
In a separate incident, one person was killed in a powerful explosion in Peshawar.
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