King Faisal died of a heart attack on 8 September 1933 in Bern, Switzerland. He was 48 years old at the time of his death. Faisal was succeeded on the throne by his eldest son Ghazi.

A square is named in his honour at the end of Haifa Street, Baghdad, where an equestrian statue of him stands. The statue was knocked down following the overthrow of the monarchy in 1958, but later restored.