On August 28, 1996, while he was sitting in a cafe in the Bebek neighborhood of Istanbul with Celal Babür and Ferda Temel (the police officers in charge of protecting Prime Minister Tansu Çiller), he was targeted by assassins arriving by car. Ağansoy was shot dead along with Babür in an attack carried out by hitmen hired by Alaattin Çakıcı. The cafe's owner, Gulcin Balaban, was also killed; cafe customers, including some notable figures such as Sibel Can and Cem Özer, were able to escape, although some were injured. The shootout lasted for 20 minutes and despite taking place just 200 metres from the local police station, no police intervened until the end of the shootout, and the attackers were not pursued. He was buried in Zincirlikuyu Cemetery, with his wife Hülya avowing revenge. His wife has died of cancer on February 27, 2020.