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The accident occurred when the victim, 19-year old Mehedi Hasan put his head out of the window of one of the buses near Old Padma Cinema Hall on Monday evening, the police said.
Mehedi, a class 12 student of a college in the capital, lived with his family in Rampura.
Mohammad Golam Azam, a sub-inspector at Hatirjheel Police Station, said they seized the buses belonging to Akash Paribahan and Turag Paribahan.
The body was sent to Shaheed Suhrawardy Medical College Hospital mortuary.