Updated frequently. Based only on films that I have seen.
I'm very biased when it comes to ranking films on here, because part of my objective with this list is to offer those people who aren't even a tiny bit affiliated with Malayalam cinema the complete variety of styles and themes that they're going to find in this industry, and I feel that must be understood before you begin your exploration.
While the greatest films all find their places at the top, I've included a couple of films with mere historical relevance at the bottom, on the condition that in some way or the other, they still hold up. The same goes for some of the films in between, now that I think about it.
I like every single one of these, though, but not all of these films have been included for their quality.