Pansare, 82, and his wife were shot at by some unknown assailants in front of their house on February 16.
CPI reacted strongly to its veteran leader's death, with party leader A Abhyankar saying the government should spare no efforts to nab Pansare's killers.
Social activist Baba Adhav said Pansare's killing comes after anti-superstition activist Dr Narendra Dabholkar was killed in Pune one-and-a-half-years back.
On Monday, Pansare, who was at the forefront of a campaign against road toll tax, and his wife Uma were shot at and critically wounded by unknown assailants.
The CPI leader had received three gunshot injuries to his neck, armpit and on the right leg near the knee.
20 teams have been formed by the Maharashtra police to investigate the Pansare murder.
The communist leader's family and aides have claimed that he was also being threatened by right wing activists for a number of days.
Meanwhile, a post-mortem examination was today conducted on the body of veteran communist leader, Pansare.
The mortal remains of Pansare will be taken to Kolhapur around 10.30 AM for last rites on Saturday.
(With inputs from agencies)