The man was rescued from Stowe Pool, off Stowe Road near the city centre and cathedral, at 5.38pm yesterday.
It is unclear at this stage how the man came to be in the water.
Paramedics and firefighters attended the scene to help the man, aged in his 50s.
He was taken to hospital but died a short time later.
Death referred for independent investigation
The Independent Office for Police Conduct is being notified over Staffordshire Police's contact with the man prior to his death.
It is not known what the nature of this contact was at this stage.
A Staffordshire Police spokesperson said: "There are believed to be no suspicious circumstances and the man’s next of kin has been informed.
"A report is being prepared for HM Coroner.
"The matter is being referred to the Independent Office for Police Conduct due to previous police contact.
"Anyone with information is asked to call 101 quoting incident number 638 of July 8."
Summer open water tragedies
The man's death follows recent open water tragedies which claimed two lives over the past fortnight.
An 18-year-old man disappeared in the waters of Shavers End Quarry, near Stourport, at around 8.30pm on Sunday.
Police yesterday confirmed a body had been recovered from the water.
Extra measures such as concrete blocks have been introduced at one of the entrances to the quarry in the aftermath.
An investigation by West Mercia Police is under way. The teenager has yet to be publicly identified.
Ten days ago, Carl Storer, aged 21, died after trying to rescue a young girl from Chasewater Reservoir.
Emergency services were called to the reservoir on June 30 after Mr Storer, from Tamworth, got into difficulty when he went into the water to help a nine-year-old girl.
The girl was rescued by another passer-by.
Mr Storer was found a short time later following a search by the emergency services.
Extra police patrols were made around Chasewater as councillors advised people of the dangers of swimming in open water.