He was 65.
The MLA from Chitrkoot in Satna district, a diabetic, had been ailing for the past several months.
This morning Singh, who was at home, felt uneasy and was rushed to a hospital, where he died during treatment, a family member said.
Born on September 8, 1951 at Kolauha village of Uttar Pradesh, Singh was a bachelor.
He was a three-time MLA from Chitrakoot, from where he won in 1998, 2003 and 2013.
Madhya Pradesh Chief Minister Shivraj Singh Chouhan and Leader of Opposition in Assembly Ajay Singh expressed grief over the death of Prem Singh.