The 82-year-old actor has died of old age, they said.
“#RIPSrikanth !!” said the official Twitter account of “Nadigar Sangam”, the artists’ association.
Tamil Nadu’s Chief Minister, Deputy Stalin, regretted the actor’s disappearance.
During his 40-year career, Srikanth had acted as a hero and villain, in addition to playing many character roles.
“Vennira Adai” (The White Sheet) was directed by the late veteran CV Sridhar.
The actor is known for his many supporting roles in films starring the biggest stars of Tamil cinema, including the late Sivaji Ganesan, Rajinikanth and Kamal Haasan.
His memorable roles include that of the rebellious son of a strict policeman, played by Ganesan, in the 1974 super hit “Thanga Pathakkam” (The Gold Medal).
He also played the anti-hero in ‘Bhairavi’, Rajinikanth’s first film as a hero.
Meanwhile, in an official statement, Stalin expressed sorrow over the actor’s death.
He recalled the many “memorable films” Srikanth had starred in and pointed out that he had appeared in a variety of roles.
The chief minister said he also knew the late actor and expressed his condolences to the family of the deceased.
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