The award comprises a purse of Rs 11,111, statuette and citation, temple officials said.
The honour is instituted in memory of 14th century spiritual poet Madhavan, a native of Malayinkeezhu who wrote Bhasha Bhagavadgeetha.
Thampi was chosen for the recognition considering his overall contributions to the language and literature.
An award-winning lyricist known for the classical and philosophical touch in his songs, Thampi is also a well-established script writer and film director.
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