The 209th Shaheen Corps of the Afghan Military in the North said the senior Taliban leader was killed in Ferozi village during an operation of the Special Forces.
The source further added that another comrade of the Taliban leader was killed during the operation and at least six others sustained injuries.
The anti-government armed militant groups including Taliban militants have not commented regarding the report so far.
Faryab is among the relatively volatile provinces in North of Afghanistan where the anti-government armed militants including Taliban are actively operating in some of its remote districts and often carry out insurgency and terrorist related activities.
This comes as counter-terrorism operations are underway in certain restive provinces of the country in the North.
The Shaheen Corps had earlier said that a new military operation (Esar-5) has been launched to suppress the militant and terrorist groups in Northern provinces.