As per reports, Ranpise was undergoing treatment at a private hospital following a heart attack few days ago.
"The demise of senior Congress leader and group leader of the Legislative Council, Sharad Ranapise, has taken a heavy toll on the Congress party, which has lost a studious personality. A heartfelt tribute to him," the Maharashtra Congress said in a tweet.
The two-time MLA from Parvati constituency had been a corporator in the Pune Municipal Corporation.
He was also an MLC and Congress group leader in the state legislative council.