His cremation will take place at Krishna Bhavan (Kalathil House) in Perunna on Sunday at 3pm.
Assamese poet Nilmani Phookan Jr and Konkani writer Damodar Mauzo won the Jnanpith award.
A recipient of the Padma Shri in 2006, Sugathakumari was awarded the prestigious Saraswati Samman for her last collection of poems 'Manalezhuthu'.
Akkitham had been undergoing treatment for age related ailments at a private hospital in Thrissur for the past few days.
Appearing live from his office in the state Secretariat, Chief Minister Pinarayi Vijayan paid tributes to the life and works of 93-year-old Akkitham.
Achuthan or Akkitham Achuthan Namboothiri, famed as Akkitham, who was senior to Vasu by two years was named the Jnanpith winner on Friday.
Akkitham had written about the need for shifting resources away from guns and swords and into sturdy ploughs in his favourite poem, 'Irupatham Nootandinte Ithihasam'.
Akktiham became the sixth writer from Malayalam to win the prestigious award.
Ghosh, one of the most prominent contemporary Indian writers, is known for a series of novels such as "Shadow Lines", "The Glass Palace", "The Hungry Tide", and Ibis Trilogy.