The incident took place on day-1 of Governor Rule in the state, which was implemented after BJP government pulled out of PDP alliance, leading to fall of the state government.
The militants fired upon the police vehicle near Gallandar in Pampore area of the city, a police official said.
The injured cops were taken to a hospital where one of them - Constable Tanveer Ahmad –passed away, the official said.
He said the other two policemen are being treated upon.
A case has been registered and a hunt has been launched to nab the attackers, the official said.