Information and broadcasting minister Manish Tewari condoled the death of the veteran actor saying, "Indian cinema has today lost an icon, an actor who set new standards of action with every role that he portrayed in the last several decades."
Tewari had presented the Dada Saheb Phalke award at Pran's residence here as the actor could not attend the ceremony in New Delhi due to ill-health.
BJP leader Sushma Swaraj said the country has lost an artiste par excellence.
Actor Prem Chopra, famous for his negative roles, described Pran as a source of great inspiration for all the generations for his discipline.
Filmmaker Karan Johar said Pran's demise marked the end of a magnificent and glorious era.
Earlier in 2001, Pran was honoured with the Padma Bhushan for his outstanding contribution to Indian cinema.
The funeral will be held tomorrow noon at Shivaji Park in Dadar.