Karunakaran died on 23 December 2010 at Ananthapuri Hospital in Thiruvananthapuram. He was suffering from respiratory problems, fever and other age related diseases. His condition worsened following a stroke and the death occured when he had a cardiac arrest. His death was confirmed by doctors at 5:30 PM. It was coincidental that his death and Narasimha Rao’s death was on same date. Karunakaran had played key role in backing the Rao Government and later Rao had dismissed Karunakaran from the chair of Chief Minister of Kerala.