According to local security officials, the Taliban commander was identified as Qari Hamidullah who was also well known as commander Jundullah.
Provincial police spokesman Syed Massoud Yaqoobi said commander Jundullah was killed along with two other militants while they were trying to attack a police check post in Khawajah Sabz Posh district.
Yaqoobi further added seven militants were also injured during the gun battle.
The Taliban militants group has not commented regarding the report so far.
Faryab is among the volatile provinces in northern Afghanistan where anti-government armed militants are actively operating in a number of its districts.