Dadasaheb Gaikwad was aleader of the Republican Party and a long time associate of Ambedkar and participated along with him in the Mahad Satyagrah and Kalaram temple entry Satyagrah. During the years 1937 to 1939 he was a member of Bombay Legislative Assembly as he got elected as the MLA of Independent Labour Party the newly formed party of Ambedkar from Nashik constituency. Later he was the member of Lok Sabha from 1957 to 1962 and Rajya Sabha from 1962 to 1967. He died in the year 1971 (December). He represented the All India Schedule Caste Federation in the Maharashtra Ekkikam Samittee and contested the general elections under its banner 1957 and won from the Nashik constituency. After the death of Dr. B.R. Ambedkar, Dadasaheb Gaikwad along with other followers of Ambedkar established the Republican Party at Nagpur and was its president during the years from 1964 to 1971.
A municipal housing colony in Raoli Camp that was constructed in the year 1960-62 is named after him.