Abdul Gaffar, a friend of Badal, confirmed the news of his death at a Dhaka hospital on Sunday.
Gaffar said Badal was transferred to the Bangladesh Medical College Hospital from Bangabandhu Sheikh Mujib Medical University in a last-ditch attempt to save his life.
He had been admitted to the Asgar Ali Hospital some days ago with respiratory problems. Later, he was shifted to the Square Hospital when he developed kidney problems.
He had undergone brain surgery in Singapore in 2017 with financial help from Prime Minister Sheikh Hasina. He had lost ability to walk after the surgery.
Hasina has expressed deep sorrow over the death of the former football star and sport organiser, her office said in a statement. She also extended sympathy to his bereaving family.
Badal had played for the national team from 1981 to 1986. He had also played for Mohammedan Sporting Club from 1977 to 1989 and won five league titles for the club.