Police said that the individual had attempted to forcibly enter the Upananda Vidyalaya in Akmeemana this morning (4 July).
When an army soldier stationed at the school prevented him from doing so, the suspect had scuffled with the soldier and tried to grab his service firearm.
However, the 39-year-old man was injured after being shot during the incident and was later rushed to the hospital.
The suspect had succumbed to injuries while receiving treatment at the Karapitiya Hospital.
The soldier who shot at a person who tried to grab his firearm has been arrested after the victim died in hospital.