According to police, unidentified gunmen shot at and critically injured Mehrajuddin Dar, a poultry dealer, near his shop at Badamibagh in Sopore town, 52-km from here.
The victim was taken to a nearby hospital where he succumbed to his injuries, they added.
No militant outfit has claimed responsibility for the attack so far.
This is the third killing in Sopore town in the last seven days with security agencies saying that the acts are being carried out by a splinter group of Hizbul Mujahideen.