Jagdeep played many memorable characters in Hindi films including Soorma Bhopali in Sholay.
His dialogue 'Mera naam soorma bhopali aise hi nahi hai' is one of the most famous Hindi dialogues of all time.
Jagdeep, whose real name was Syed Ishtiaq Ahmed Jaffrey appeared in more than 400 Indian films.
Many Bollywood personalities paid tribute to him.
Johny Lever, whose first role in Hindi films was with Jagdeep himself, said, "My first film & the first time I ever faced the camera, was in the film #yehrishtanatoote with the legend himself #Jagdeep bhai."
"We will miss you. May his soul rest in peace. Our prayers & deepest condolences to the family" tweeted Mr Lever.
Ajay Devgan said, "Heard the sad news of Jagdeep Saab's demise. Always enjoyed watching him on screen. He brought so much joy to the audience. My deepest condolences to Jaaved and all members of the family. Prayers for Jagdeep Saab's soul."
Manoj Bajpayee tweeted, "Rest in peace Jagdeep Sahab !! Thank you for all the memories that I have watching your films and performances in my childhood!! You will be missed by us all!! Condolences to the family!!!."
Jagdeep had acted in films like Guru Dutt's 'Aar Paar', Bimal Roy's 'Do Bigha Zamin' and 'Hum Panchi Ek Dal Ke'.
He was last seen in 'Gali Gali Chor Hai' starring Akshaye Khanna.
Jagdeep joins many stars who have passed away recently which include choreographer Saroj Khan, and actors - Sushant Singh Rajput, Rishi Kapoor and Irrfan Khan.