The incident has been reported in the northeastern district's Biyanibazar Upazila town, police said.
The clash between activists of Bangladesh Chhatra League or BCL erupted at Biyanibazar Govt College on Monday noon, said Additional Superintendent of Police Sugyan Chakma.
Locals said supporters of BCL leader Pavel Mahmud and local Swechhasebok League leader Abul Kashem Pallab clashed with each other.
Swechhasebok League is the Awami League's unit of volunteers.
Khaled Ahmed Litu, who suffered gunshot wounds, was rushed to the Biyanibazar state-run hospital where the doctors declared him dead, said senior police officer Chakma.
He said additional forces have been deployed to the area following the incident.
BCL leader Pavel and Swechhasebok League leader Pallab did not return multiple phone calls for comment.