The student, identified as T Parameswar Rao, was found hanging in his hostel room this afternoon, an IIT-G spokesman said.
Rao hailed from Vishakhapatnam in Andhra Pradesh.
The police sent the body for postmortem to Guwahati Medical College Hospital.
The exact cause of incident was yet to be ascertained though it was suspected that his getting low grades in examinations could be a reason.