He was 83.
Jaiswal represented Varanasi in Lok Sabha for three consecutive terms from 1996.
He is survived by one son and three daughters.
"Shankar Prasad was the senior most member of Bharatiya Janata Party here. He was a social worker and had joined politics at a much younger age.
"He had not been keeping well for sometime. He passed away yesterday night at his residence," Sanjay Bhardwaj, media in-charge of BJP's Eastern UP region, said here today.