Khanna was admitted to Sir H N Reliance Foundation Hospital and breathed his last at 11.20 AM today due to advanced bladder carcinoma.
India's president Pranab Mukherjee led tributes to the star of films such as Amar Akbar Anthony, Muqaddar Ka Sikandar and Mere Apne. He was last seen in the Shahrukh Khan-starrer Dilwale.
Born in Peshawar (now in Pakistan) into a business family, Khanna did his schooling in Mumbai, Delhi and Nashik and graduated in B.Com from Mumbai's Sydenham College.
Dubbed "Bollywood's original heartthrob", Khanna began his career in 1968 and quickly became a household name in India, starring in a number of hits during the 70s and 80s.
Vinod was married to Geetanjali between 1971 and 1985 and has two sons - Rahul Khanna and Akshaye Khanna.
Celebrities, young and old, remembered Khanna as one of the most charismatic personalities of the Hindi film world. Certainly, there were heroes of the time, who were handsome or smouldering in their way - Rajesh Khanna, Dharmendra, Amitabh Bachchan. My guess has always been that it was his unmistakable sexual-ness that put him there. That was Vinod Khanna for the audience, and perhaps that will always be our memory of his aka cinema's Amar. In those days, Vinod Khanna was not much in news, he was out of acting.
The actor returned to cinema five years later, and it did not take him long to reclaim his position in the industry.
Condoling his demise, the Information and Broadcasting Minister Arun Jaitley said Khanna's contributions to the Indian cinema is tremendous and it will be very hard to fill the void caused by his untimely death.
"He left the film industry, to make a comeback a few years later with Mukul Anand's "Insaaf". Some of the Bollywood hits like Amar Akbar Anthony, The Burning Train and many others. He lost narrowly in 2009 to Pratap Singh Bajwa (Congress). He went on to win numerous awards, including the Filmfare award for best supporting actor for Haath ki Safaai and in 1999, the Filmfare Lifetime Achievement Award, and again in 2007 he won a lifetime achievement award at the Zee Cine Awards.
In 2002, he was made the minister of state for tourism in the Atal Bihari Vajpayee's government and then had a stint as the junior minister in the external affairs ministry.