Sall hailed the former president of Olympique Marseille football club as a great figure of sport.
"To his family, I offer, on behalf of the nation, my deepest condolences," he added on Twitter.
Diouf was taken to hospital in Senegal after contracting the virus there. He had been due to leave for Nice on Tuesday to be treated in France but his condition deteriorated and he was placed on a respirator. His death was registered as the country's first from coronavirus.
Diouf was born in Chad to Senegalese parents who returned to their homeland shortly after his birth. Armed with Senegalese and French citizenship, Diouf moved to Marseille at the age of 18 with the intention of a career in the military.
However he changed tack and enrolled at Sciences Po in Paris. He returned south to work at La Marseillaise newspaper before becoming a football agent. Marcel Desailly, Basile Boli, William Gallas, Samir Nasri and Didier Drogba were some of the players on his books.
Ascent
He crystallised his interest in sports management at Olympique Marseille where he eventually became the club president - the first black man to boast such a role at a major European club.
"It was a difficult post," said Jacques-Henri Eyraud, the club's current president. "There were very few men from diverse backgrounds. But he fought tooth and nail and won the hearts of thousands of supporters."
Recalling his time at the helm, Diouf said he was acutely aware of the lack of diversity at the management level.
Just after his four year reign ended in 2009, the side lifted the Ligue 1 title in 2010.
"Pape will remain in the hearts of the Marseillais for ever as one of the great architects in the club's history," Marseilles said in a statement.
