Paravathamma, who has been suffering from cancer, died of a cardiac arrest at 4.40 am at Ramaiah Memorial Hospital here, hospital sources said.
She is survived by her three actor sons, Shiva Rajkumar, Raghavendra Rajkumar, Puneeth Rajkumar and two daughters.
"Paravathamma Rajkumar expired on May 31 morning at 4.40 am. She had known case of breast malignancy with metastasis to her liver and lungs. Her renal functions had also compromised," President of Ramaiah Memorial Hospital, Dr Naresh Shetty said in statement.
Paravathamma, under the banners Vajreshwari Combines and Poornima Enterprises, has produced about 80 movies, featuring her husband Rajkumar and their sons.
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Blockbuster movies produced by her include "Trimurthy", "Haalu Jenu", "Kaviratna Kalidasa" and "Jeevana Chaitra" starring Rajkumar.
According to the sources close to family Paravathamma would be cremated at Kanteerava Studio here, next to her husband Rajkumar, who had died on April 12, 2006.