According to Al Jazeera reports, Gaddafi has been killed in a gunfight in his hometown in Sirte. He was reportedly hiding in a hole and shouting "Don't shoot, don't shoot".
While talking to Reuters, NTC's information minister, Mahmoud Shammam said, "He was killed in an attack by the fighters. There is footage of that."
"He (Gaddafi) was also hit in his head. There was a lot of firing against his group and he died," added the official.
Earlier, local Libyan media reports informed that National Transitional Council (NTC) captured Gaddafi whose two legs were brutally bruised.
However, no official confirmation has come yet neither on capture news nor on his death.
If the media reports are to be believed, it would be the end of 42-year-old era of Gaddafi in Libya and a historical moment for the country.
Citing the news, Libyans have already began celebrations in Tripoli and other regions of the country. Mohamed Abdel Kafi, an NTC official in the city of Misrata also informed, "Gaddafi's body is with our unit in a car and we are taking the body to a secret place for security reasons."