He had previously represented Sligo and Petersfield in Parliament and also served as Lord Lieutenant of County Londonderry.
Canning was the first cousin of both Prime Minister George Canning and the diplomat Stratford Canning, 1st Viscount Stratford de Redcliffe.
The title is currently held by his great-great-great-grandson, the sixth Baron, who succeeded his father in 2013.
The heir apparent and sole heir to the peerage is the present holder's son, the Hon.
Stratford George Edward de Redcliffe Canning (born 1990).