Thein Sein, 56, died en route to hospital after being tusked accidently by one of the three white elephants kept at the Royal White Elephant Garden, on the outskirts of Yangon, a garden official said.
The pachyderm was reportedly moving his massive head up and down when he caught the mahout in the left chest.
Thein Sein is also the name of the current president, who has been in office since March, 2011.
The mahout was killed by tusker Yaza Gaha Thiri Pissaya GazaYaza, 19, who was the first white elephant captured under the junta that ruled Myanmar between 1988 to 2010.
The male albini shares the Royal White Elephant Garden, with two other albino female elephants.
In Southeast Asia the capture of a white elephant, which are noted in Buddhist scripture, is deemed a sign of the worthiness of the ruling kingdom or government.
Myanmar currently has eight white elephants, including two in Yangon and five in Naypyitaw, the new capital 300km north.