While accepting the demand for a CBI probe to unearth the "conspiracy" behind the murder, Chief Minister Oommen Chandy said the government has to go through certain technical and legal procedures to formally order a CBI probe into the issue.
The decision of Chandrasekharan's wife K K Rema to end the fast was announced by RMP leader N Venu shortly after Chandy announced the decision after a meeting of the state cabinet.
Earlier, Chandy had appealed to Rema to end the fast that entered the fifth day today.
A CPI(M) rebel, who floated a parallel Left outfit called Revolutionary Marxist Party in his home turf Onchiyam in north Kerala, Chandrasekharan was hacked to death in May 2012.
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Last month, a special court sentenced 11 persons, three of them local CPI(M) functionaries, to life imprisonment.
CPI(M) had held that ordering a fresh probe would be illegal and politically motivated.