Shiv Sena MLA Prakash Bala Sawant passed away late Thursday night after a prolonged illness.
This is the second case of a sitting MLA to have died in the last three months.
In October, BJP MLA from Mudkhed Govind Rathod had died after suffering a heart attack in a train while on his way to Mumbai.
Sawant was MLA from Bandra (East), a seat which the Shiv Sena won for the first time only in 2009 despite Bal Thackeray residing in the area.
Sawant, a known face for visitors at Matoshree, also served as a corporator for three terms before being elected as an MLA in 2009.
The frail-looking MLA had been keeping bad health for some time and had been admitted to the Hinduja Hospital.
His funeral took place at the Bandra Crematorium and was attended by Shiv Sena president Uddhav Thackeray, among others.