Bulbul, also a freedom fighter, was taken to Ayesha Memorial Hospital at Mohakhali after he suffered a heart attack at 4 am where doctors declared him dead, his family sources said.
His body will be kept at the mortuary of a hospital.
It will be taken to the Central Shaheed Minar around 11am on Wednesday and be kept there till 12:30pm enabling fans and people from all walks of life to pay their last tributes to the noted lyricist.
His Namaj-e-Janaza will be held at the central mosque of Dhaka University after Zohr prayers where he will be given a guard of honour, said Golam Kuddus, president of Sammilita Sangskritik Jote.
However, his family is yet to decide about his burial place, he said.
Imtiaz Bulbul joined the Liberation War in 1971 at the age of 15.
He won a number of awards, including Ekushey Padak, National Film Award and the President Award.
Bulbul took part in the Liberation War at the age of 15. He started his career as a music director in the film ‘Megh Bijli Badol’. He released music album independently and directed numerous songs for films.
Bulbul won the ‘National Film Award’ as music director for ‘Premer Tajmahal’ and ‘Hazar Bosor Dhore’ films.
His famous works include ‘Shobkota Janala Khule Dao da’, ‘O Majhi Nao Chaira De’, ‘Shei Railiner Dhare’, ‘Sundar Suborn Tarunno Labonnyo’, ‘Amar Sara Deho Kheo o go mati’, ‘Amar Babar Mukhe Prothom Jedin’ and many others.
Meanwhile, President Abdul Hamid and Prime Minister Sheikh Hasina expressed profound sorrow and shock at the death of Bulbul.
In a condolence message, the Prime Minister recalled with profound respect Bulbul's outstanding contributions to the country's Liberation War as well as music industry.
"The country has lost a valiant freedom fighter and prominent singer and music composer at his death," she said adding that his death is an irreparable loss to the country’s music industry.
The President and the Prime Minister also prayed for salvation of the departed soul and conveyed deep sympathy to his bereaved family members.