The stamp was released on the occasion of his birth centenary year (November 20, 2011 to November 20, 2012) at a function in Rashtrapati Bhavan, an official release said.
Maheshwari was a freedom fighter, doyen of journalism, a committed social worker and a person who left no stone unturned for the cause of promotion of Hindi language.
"He started biweekly paper 'Nava Bharat' from Nagpur. He successfully directed the publication of Nava Bharat as Chief Editor and was known as 'Bhishma Pitamaha' of journalism in Central and Western India," it said.
Besides being involved in the freedom movement, Maheshwari also made great efforts to eradicate conservative customs from the Maheshwari Samaj and made it more progressive.
Among the dignitaries present on the occasion was Minister of State for Communications and Information Technology Kruparani Killi.