Sunday's clash took place within a month of the BCL factions saying they will peacefully co-exist.
BCL's frequent internal strife has led to much tension at the Chittagong University for the last three years.
The dead has been identified as Tapash Sarkar, a second-year Sanskrit student.
Witnesses said members of the ruling Awami League affiliate factions 'CFC' and 'VX' clashed after paying respects to martyred intellectuals in the morning.
Probe committee
Meanwhile, CU authorities have formed an investigation committee to look into the incident.
The committee, headed by CU student councillor Prof Khan Touhid Osman, was form after an emergency syndicate meeting at night.
They decided to take stern measures against those involved in the incident.
The committee has been asked to submit its findings within two weeks.