He is most popular for scripting T.P. Balagopalan M.A., Sanmanassullavarkku Samadhanam,
Sreenivasan entered film industry in the 1977 P. A. Backer movie Manimuzhakam after finishing a course in acting from the Film Chamber Institute. In the film institute he was coached by the then vice principal A.Prabhakaran and later gave him a role in his movie Mela. A few movie roles later, he wrote his first film Oodarathuammava Aalariyam in 1984. His most famous movies as actor-writer include Varavelppu,Gandhinagar 2nd Street, Nadodikkattu and its two sequels, Pattanapravesham and Akkare Akkare Akkare. He also made his mark as a director with his two award winning movies - Vadakku Nokki Yanthram and Chinthavishtayaya Shyamala.
Much of Sreenivasan's movies depict problems affecting society, although these are portrayed in a comical manner. Some of his successful films includes Sandesham, Vellanakaludey Naadu, and Varavelpu. Mostly satirical in nature, his acrimonious and humorous lines are directed against matters as diverse as Police Brutality, Pulp magazines and unproductive Labour Unions. Excellent characterization, witty (oftendeadpan) dialogues and self-deprecating humour are trademarks of Sreenivasan movies. His writing very often pokes fun at himself, mostly at his own unglamourous appearances, and have become commonplace in scenes with costar Mohanlal. Some of his popular movies such asVadakku Nokki Yanthram and Chinthavishtayaya Shyamala not only are thought-provoking but also are fine depictions of human character which elicited critical and public applause. His comedies earned popularity, some of them such as
He appeared in a popular weekly loser's speacialTV show in Kairali TV called Valiya Lokavum Cheriya Sreeniyum (translation: The Big World and the Little Sreeni). His son Vineeth Sreenivasan is a playback singer and actor.
Sreenivasan has won several Kerala State Film Awards.