Senior journalist Siddharth Vardarajan, who was also Bukhari's colleague, described him as "a powerful voice for the embattled media fraternity".
He was well-known in Kashmir and was previously a correspondent for the Indian newspaper The Hindu.
Terrorists shot at the Editor of Rising Kashmir newspaper Shujaat Bukhari in Press Colony in Srinagar city on Thursday.
"He (Bukhari) is no more".
Another police guard and the vehicle driver were critically wounded in the attack. Recipient of World Press Institute USA fellowship, Bukhari had done his Masters in Journalism from Ateneo de Manila University, Manila as a fellow of Asian Centre for Journalism. Bukhari was slumped over in the back seat, and one of the police bodyguards had a gruesome head wound.
Hours before he fell to the bullets of unidentified gunmen, Rising Kashmir editor Shujaat Bukhari had vigorously defended his work on Twitter when some Delhi-based journalists accused him of doing "biased" reportage on Kashmir, and had posted the United Nations report on alleged human rights violations in the Valley.
Bukhari had been a strong advocate of peace in disputed Kashmir, at the heart of decades of hostility between India and Pakistan, both of which claim the Muslim majority region. "The state government and the central government are committed for the freedom of press in the country and the state".
"The killing of @RisingKashmir editor, Shujaat Bukhari is an act of cowardice". "Such an attempt to suppress the sane voices by terrorists will never succeed", he said in a tweet. He was a courageous and fearless journalist. His security guard died in the hospital, while another is in critical condition.
The attack on Bukhari came amid discussion over extension of Ramzan ceasefire by security forces in Kashmir. The attack comes one day before the end of a unilateral halt in military operations against the Kashmiri youth for the Muslim holy month of Ramadan.