Jaitley, who also served as a BCCI vice-president and the Delhi and District Cricket Association (DDCA) president in the past, passed away on Saturday afternoon at the All India Institute of Medical Sciences (AIIMS).
Earlier in the day, confirming the senior leader's demise, Protocol Division of AIIMS stated that Jaitley breathed his last on Saturday afternoon.
He was admitted to the AIIMS earlier this month after he complained of restlessness. He was placed under observation at the hospital's Cardio-Neuro-Centre.
Jaitley first became a Cabinet minister in the government of former Prime Minister Atal Bihari Vajpayee in 2000. He then also went on to serve as the Leader of the Opposition in the Rajya Sabha from June 2009.
He was appointed the Finance Minister in the first term of Modi government in 2014. He opted out of the 2019 Lok Sabha elections citing health reasons.