The fire at the studio in suburban Kanjurmarg broke out around 8 pm yesterday. By 10 pm, it was brought under control.
The deceased, identified as Gopi Verma, used to work for a television serial production unit, senior inspector, Park Site police station, Vilas Jadhav, said.
Verma was reported to be missing by his family members after the fire broke out at the studio, where the shooting for two TV serials was on at the time of the incident.
Over 100 TV crew members were evacuated from the studio after the blaze.
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The blaze had started from the electric wires in the studio and spread to the other areas, fire brigade officials said.
This was the third major fire incident in the city in the last 10 days.
Fourteen persons were killed in a fire at an upscale pub in the Kamala Mills compound on December 29. Besides, four persons, including two children, had died and five were seriously injured after an upper floor of a residential building in suburban Marol caught fire on January 4.