He died at 12.55 a.m. according to sources in the hospital in which he was admitted.
The accident took place last Tuesday at Pallipuram on the outskirts of the capital city.
While his two-year-old daughter was brought dead to the hospital that day Balabhaskar 40 his wife and their driver were brought in a serious condition to a private hospital in the city where he breathed his last.
Doctors treating him said they were working overtime to ensure his recovery but it did not happen.
Balabhaskar s death has saddened thousands of his fans. His body will be kept for the public to pay their last respects at a Thiruvananthapuram college where he studied.
The last rites would take place later on Tuesday in the state capital from where he hails.
The musician shot to fame when as a 17-year-old he composed music for a Malayalam film. He has composed music for several films.
--IANS sg/pgh/