A prominent figure in the Malayalam film industry during the 1980s and 1990s, he acted in over 600 films, transitioning from villainous roles to comedy and diverse character portrayals.

Madhavan began his acting career at 40, making his debut in the 1975 film Raagam after meeting actor Madhu. His talent was acknowledged by Chief Minister Pinarayi Vijayan, who expressed condolences and highlighted Madhavan's impressive body of work, which continued into his later years with television serials while residing at Gandhi Bhavan in Pathanapuram.

In addition to his acting contributions, TP Madhavan was the first General Secretary of the Association of Malayalam Movie Artists (AMMA) and previously managed advertising agencies in Mumbai and Kolkata. Despite facing health challenges, including amnesia, he left a lasting legacy in cinema, receiving accolades such as the Ramu Karyat Award and the Prem Nazir Award.