Multiple reports indicate that Muammar Gaddafi is dead.
Reuters is reporting that Gaddafi died from wounds suffered on Thursday as rebels overran his hometown Sirte. The report cites interim rulers as the source.
The report says the killing happened swiftly after he was captured, and that National Transitional Council official Abdel Majid Mlegta said that he was hit in the head.
At this point, it looks like a lot of major news sources are having trouble confirming the death independently. Aljazeera is reporting, however that it has confirmed with Abdul Hakim Belhaj, an NTC military chief, that Gaddafi is dead. It also reports that he was wounded in both legs.
A photo of what appears to be Gaddafi dead and bloody has been making the rounds, but even Aljazeera says it's not been possible to confirm its authenticity (via Guardian):
More on Gaddafi here.
The picture at the top is from a Tripoli graffiti artist, tweeted out by William Hague.