Before serving as president between 2012 and 2017, Mukherjee held several important portfolios during his 51-year political career.
These included the finance, foreign and defence ministries.
His son, Abhijit, confirmed the news in a tweet.
Indian Prime Minister Narendra Modi praised Mukherjee's contribution to the country, saying the former president had "left an indelible mark on the development trajectory of our nation".
