He was 52.
The actor, who had been undergoing treatment for the illness, was brought to the hospital this morning where he passed away, they said.
Abi, who began his career as a mimicry artist more than two decades ago, had acted in over 50 films and was closely associated with Malayalam actors Dileep and Harisree Asokan.
He had performed several stage shows in Kerala and Gulf countries.
Hailing from Muvattupuzha in Ernakulam district, he gained fame for his portrayal of 'Amina Thatha' in several TV programmes and stage shows.