72-year-old Padgaonkar, a former editor of The Times of India, was unwell for past several weeks and died at a hospital in Pune, family sources said.
Padgaonkar began his career in journalism at an early age and joined the Times of India as its Paris correspondent after receiving a doctorate in humanities in 1968.
He served the paper in various capacities before he was appointed its editor in 1988, a post he held for six years.
Padgaonkar was appointed as one of the members of the three-member Interlocutors Group on Jammu and Kashmir, set up by the government after continuous unrest in the Valley in 2008.