A student of the Army Public School succumbed to his injuries on Tuesday, three days before the country marks the second anniversary of the attack.
Irshad Hussain was being treated at a hospital in Rawalpindi for the bullet wounds he received in the attack, according to the TV channel.
Pakistan launched National Action Plan as part of its efforts against terrorism following the attack. The country also decided to put an end to capital punishment, sending scores of convicts to gallows.
The government and opposition parties agreed to set up military courts for trial of hardcore terrorists to expedite campaign against foreign and local militants.
At least 150 people mostly students and staff members were killed when Taliban gunmen disguised as troops attacked a military-run school in Peshawar on December 16, 2014.