No, Baki is still alive and well, and he is a formidable warrior. Despite numerous horrific encounters with death runners and mixed warriors, in which he has nearly perished, Baki has always triumphed over his opponents.
The third season of Baki ended on a cliffhanger. Baki got poisoned during the “Poison Hand, Raitai” event. Kozue’s love, on the other hand, saves him by serving him and assisting him in recovering from the lethal poison.