Hindupur was once represented by NTR himself and later for a term by his elder son Nandamuri Harikrishna.
Balakrishna will be the third from the family to contest from the seat that has been a TDP stronghold.
Ever since the TDP's formation, Balakrishna always campaigned for it in every election but never entered the electoral battle.
His formal entry into electoral politics had been in doubt till a few days ago as he left the decision of fielding him to party supremo Chandrababu Naidu.
Balakrishna recently went on a whirlwind tour of the state to celebrate the success of his latest blockbuster 'Legend'.
Buoyed by the public response, he is said to have finally decided to enter the electoral battlefield and discussed the issue with Chandrababu.
The TDP announced his name in the third list of candidates today and Balakrishna is expected to file his nomination on April 16.
Meanwhile, most of the Congress leaders who joined the TDP in recent days were given tickets for the May 7 elections in Andhra Pradesh.
Former minister Thota Narasimham has been given the Kakinada Lok Sabha ticket to take on Union Minister M M Pallam Raju.