Mr Sasikumar, who was born N Varkey John, was suffering from age-related illnesses.
His first film Kudumbini came in 1964 and his last film was Dollar in 1993.
In three decades, he paved his way into record books by becoming the director who made a maximum number of 141 films.
Another record that he has is, that he cast, Prem Nazir, the legendary evergreen hero of the Malayalam film industry, in 84 films.
In 1977, Mr Sasikumar directed a staggering 15 Malayalam films.
He directed a huge number of stars including Sathyan, Prem Nazir, Madhu, Jayan, Kamal Hassan, Sukumaran, Soman Mammootty and Mohanlal.
His popular films include Sethu Bandhanam, Thuruppu Gulam, Saghakkale Munottu, Attakkalasam and Ethikkara Pakki, to name a few.
The Kerala State Government honoured him last year by conferring the coveted JC Daniel Award for his contribution to Malayalam cinema.