In a message to his wife, Nafisa Vahanvati, Mukherjee said: "I am extremely saddened to learn about the passing away of your husband."
Vahanvati died Tuesday following a cardiac arrest.
"Vahanvati rendered distinguished services as the attorney general and the solicitor general of India. Starting his practice in Mumbai, he ably handled various matters involving important constitutional issues," he said.
The president added that in his death, "we have lost a highly respected and an eminent personality, whose contributions to the field of law shall always be remembered".
"Kindly accept my heartfelt condolences and convey the same to other members of your family. I pray to the Almighty to give you and your family the strength and courage to bear this irreparable loss," he added.