Balachander, 84, died at a private hospital here Tuesday following prolonged illness and age-related ailments.
Rahman made his debut as music director in the film "Roja", produced by Balachander's home banner, in 1992.
"Dear KB sir, your vision and creations have inspired 3 generations. Really grateful for intro'ing me thru your co Kavithaalaya in Roja. RIP," Rahman tweeted.
Balachander was also instrumental in introducing talents like Kamal Haasan and Rajinikanth to the film industry.