Azad, who had been honoured with the Ekushey Padak and Bangla Academy Award, was 74.
He passed away at 2:10pm on Saturday at the Intensive Care Unit of Bangabandhu Sheikh Mujib Medical University (BSMMU) hospital, his niece Dr Niru Shamshunnahar told bdnews24.com.
He had been admitted there in January when he suffered the stroke that would eventually claim his life.
Azad, one of the most popular poets of Bengali literature, had been taken to BIRDEM hospital first.
He was later shifted to Anwer Khan Modern Medical College Hospital before being finally moved to BSMMU.
His body will be taken to the Central Shaheed Minar at 10am on Monday for paying respects.
It will be then kept at the Bangla Academy premises before the funeral prayer at Dhaka University Central Mosque after the Zuhr prayers.
The poet will be buried at the Martyred Intellectuals Graveyard at the capital's Mirpur.
With his first poetry book published in 1973, Azad had 45 books to his credit.
His notable works include ‘Prokriti O Premer Kobita’, ‘Asombhaber Paye’, ‘Sahasra Sundar’, ‘Haturir Nichae Jibon’, ‘Khub Beshi Dure Noy’, ‘Khomakaro Bahoman Hay Udar Omiyo Batas’, ‘Apar Arannya’, ‘Karo Ashroo Paat’ and ‘Pagoler Thekay Premikar Chithi’.
He was given the Ekushey Padak in 2013 for his contributions to the Bengali language and literature.
Born on Feb 14, 1941, at Tangail’s Ghatail, Azad finished his studies in Bangla at Dhaka University in 1967.
After that, he was engaged as a teacher for a while.
He also worked from 1972 to 1984 as the executive editor of monthly ‘Uttaradhikar’, published by Bangla Academy.
Later, he held posts at Bangladesh Jute Mills Corporation, Upajatiya Cultural Academy and the Directorate of Archives and Libraries.