Family members said Lahkar breathed his last this morning due to old-age related issues.
Condoling his death, Assam government declared state mourning for a day and announced to perform his last rites with full state honours.
Assam Chief Minister Sonowal described Lahkar's passing away as an irreparable loss to 'Bhramyaman' (travelling) theatre.
"A pioneer of Bhramyaman theatre, Achyut Lahkar strode like a colossus spanning several decades. The void created by his death will be difficult to fill.
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Born in 1931 at Pathsala, Lahkar had established Nataraj Theatre in 1963 and gave a rebirth to moving theatre in Assam.
As a producer, writer, director and actor of his theatre company, Lahkar toured across Assam and many other states to perform plays for nearly four decades.
He also published and edited a magazine 'Deepawali' and was conferred the Kamal Kumari National Award in 1997.
Former Chief Minister Tarun Gogoi also expressed grief over the death of Lahkar.