Rajeswar, who was 73, had been suffering from kidney-related ailment and he breathed his last this morning, TDP sources said.
He was an ardent fan of late N T Rama Rao and headed the NTR fans association for several years. He campaigned for conferring Bharat Ratna on N T Rama Rao.
Rajeswar was elected to the Legislative Assembly thrice and also served as a minister.
His funeral will be held here tomorrow, the sources said.