The body of one of the deceased, Sabinan, was found in Lakshadweep islands, he said in a statement.
Sabinan, hailing from Kilvelur in Nagapattinam district had died while fishing in the sea after Ockhi cyclone struck Kerala and Tamil Nadu coasts, he said without elaborating.
Another person, Judu, also met with a similar fate, he said, and expressed his sympathies to the families of the deceased.
Palaniswami also announced a relief of Rs 10 lakh each to the families of the deceased persons.