"It pains us to share that Sushant Singh Rajput is no longer with us," a spokesperson for the actor said in a statement.
Rajput was found dead at his residence on Sunday morning and an investigation is ongoing, a spokesperson for the Mumbai police said, declining to give further details.
The death has sent shockwaves through Bollywood and Indian sport, with tributes and condolences pouring in on social media.
"This is just so shocking. A wonderful talent. RIP Sushant," actor Abhishek Bachchan said on Twitter.
Rajput started his acting career with television soap operas and made his Bollywood debut in 2013.
He had acted in 10 films and his eleventh, an official remake of the Hollywood hit The Fault in Our Stars, is scheduled for release later this year.
Indian Prime Minister Narendra Modi also expressed shock over the actor's death.
"A bright young actor gone too soon ... His rise in the world of entertainment inspired many and he leaves behind several memorable performances," Modi said on Twitter.
