His sons, Naga Chaitanya and Akhil Akkineni, followed in his footsteps, although both faced early setbacks in their careers with initial film flops.

Fans have often wondered why Naga Chaitanya has 'Naga' in his name while Akhil does not. In an interview, Nagarjuna clarified that the name 'Naga' has familial significance. He explained that during his mother's pregnancy, she frequently dreamed of snakes, leading the family to perform special rituals for Naga Devata. As a result, it became a tradition to include 'Naga' in the names of male descendants. Nagarjuna was named after his father, Akkineni Nageswara Rao, and subsequently named his son Naga Chaitanya. However, he chose not to include 'Naga' in Akhil’s name, as he intended to reserve it for his first son.