The deceased was identified as Badar Khandakar, 45, son of late Moyem Khandakar and a member of upazila Awami League.
Locals said a group of miscreants waylaid Badar in front of Kalna Govt Primary School around 6:30pm while returning home from Kalna Ghat.
They swooped on him and chopped him with sharp weapons and cut off one of his hands and legs before fleeing the scene.
Locals took him to upazila health complex from where he was shifted to Khulna Medical College Hospital. However, doctors there declared him dead.
Md Alamgir Hossain, officer-in-charge of Lohagara Police Station, said they recovered a chopper, a mobile phone set, two empty black bags and two sandals from the spot.