The people of Maharashtra honoured him with the sobriquet Karmaveer (King of actions) and the Government of India awarded him with Padma Shri in 1968 for his dedicated service to society.

Gaikwad was born on 15 October 1902 into Mahar family at Ambe village in Dindori tehsil, Nashik district of Maharashtra.

[3][4] Gaikwad embraced Buddhism at the hands of Babasaheb Ambedkar at Deekshabhoomi, Nagpur on 14 October 1956.

[5] He imparted Buddha Dhamma Diksha to thousands at Chaitya Bhoomi, Mumbai on 7 December 1956.

[5] Government of Maharashtra gives special assistance to socially and economically backward people on his name, Karmaveer Dadasaheb Gaikwad Sabalikaran & Swabhiman Yojana.