"My father has passed away," the 70-year-old Bengaluru-based artist's son Sibu Arakkal told PTI.
Besides Sibu, Arakkal is survived by wife Sara Arakkal.
Born in 1945 in Kerala's Chavakkad, Arakkal obtained a diploma in painting from Karnataka Chitrakala Parishat, Bengaluru.
His mother hailed from the only Muslim royal family which once ruled Kerala and his father belonged to Keyees, the well-known business family based at Kozhikode and Thalassery.
Driven by the passion to be a painter, he had left his home for Bengaluru.
His parents died when he was young and the hardships he faced during his struggle sharpened his sensibility and an artist in him, manifesting in his paintings that showed his deep concern for man and society.
Arakkal had done many works in different media including in canvases, sculptures with emphasis on tiger conservation.
Recently, he received the prestigious Lorenzo De Medici Gold Medal, at Florence Internazionale Biennale, in Florence, Italy, for his work Bacon's Man with the Child and Priest.
The award is instituted in memory of the great Florentine statesman Lorenzo de Medici.
Arakkal was also recipient of several other awards including Karnataka Lalithkala Academy award in 1979 and 1981 and a national award in 1983.
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Abhishek's dad is a NREGA worker. He's now in IIT