"With the demise of Baba, virtually an age is over. He taught his disciples to follow the principles of honesty and simplicity. It is an irreparable loss," Yadav said.
He expressed confidence that there would be no conflict on the issue of finding a successor to him.
"The disciples of Baba are understanding and the issue of finding a successor would be sorted out by them," he said.
Baba taught people on how to move ahead and how to lead a successful life in spite of poverty, he said.
Baba died at his ashram here last night after prolonged illness at an age of 116.
He had a large following in North India and was considered a cult figure among peasants and farmers in the region.
Baba's ashram has announced that his cremation would take place on the evening of May 21.
"Full security would be provided for cremation," Yadav said.
Earlier, former Chief Minister Mulayam Singh Yadav who came here to condole the death of Baba said, "I came to know about the death from newspapers today. To work as per his ideals would be a befitting tribute to Baba."
There was a long queue of mourners at the ashram here, Sant Ram Chaudhary, manager of the Ashram said.
Late Prime Minister Indira Gandhi, Samajwadi Party chief Mulayam Singh Yadav, former chief ministers Narayan Dutt Tiwari and Rajnath Singh were among Baba's disciples.
