The film stars Vijay in the main lead role alongside R. Sarathkumar, Srikanth, Shaam, Prakash Raj, Prabhu, Rashmika Mandanna, Jayasudha, Sangeetha, Samyuktha Shanmughanadhan, Nandini Rai, Yogi Babu, Ganesh Venkatraman and Suman.

The music was composed by Thaman S, cinematography handled by Karthik Palani and editing was by Praveen K. L. The film was subject to numerous leaks during production, despite the efforts of the producers to contain them.

Vijay is disowned and thrown out of the house as he refuses to join the family business, instead deciding to launch a food delivery startup.

He decides to reveal his terminal condition and anoint one of his two elder sons, Jai or Ajay, as his successor before his impending death.

Vijay arrives to find his house in disarray; Jai is cheating on his wife, Aarthi, and has an extramarital affair with another woman, Smita, while neglecting his spoilt daughter, Ria.

When Ajay could not repay the money to Mukesh, he offered to leak his company's secrets to his father's business rival, Jayaprakash "JP".

During Rajendran's birthday celebration, JP, through Smita and Mukesh, reveals the duplicity of Jai and Ajay, which devastates the entire family.

Aarthi decides to file for divorce from Jai when she learns of his affair with Smitha, and Rajendran loses a business deal to JP due to Ajay's treason.

[10] Paidipally said the makers initially intended to announce the project early that year, but had to postpone their plans due to the second wave of the COVID-19 pandemic in India.

[9] Cinematographer Karthik Palani, editor Praveen K. L. and production designers Sunil Babu and Vaishnavi Reddy, were part of the film's technical crew.

[20] In an interview with Ananda Vikatan, Vamshi claimed that the film is a family entertainer in the baseline and not specific to the genre, as he felt necessary to include several elements that would cater to the target audience, especially while writing for a big star like Vijay.

[41] It took place at a specially constructed set at a film city in East Coast Road, Chennai and was completed on 15 April.

[42][43] Initially, 75% of the shoot was planned to take place in Hyderabad but Vijay requested the production to remain in Chennai to benefit the local FEFSI members, and the makers reportedly agreed.

[51] The team headed to Visakhapatnam for the fifth schedule in late-July; Paidipally planned to shoot the film in live locations in the city, and the details of the venue were undisclosed, in order to avoid fans gathering.

[80] However, the Telugu version was later pushed to 14 January 2023 due to Raju choosing to let Veera Simha Reddy and Waltair Veerayya release first.

[citation needed] DMY Creations bought the distribution rights for Malaysia,[87] and Home Screen Entertainment did so for Singapore.

[93] The film premiered on Amazon Prime Video from 22 February 2023 in Tamil and dubbed versions of Telugu, Malayalam and Kannada languages.

[95] M Suganth of The Times of India gave the film 3.5 out of 5 and wrote "Vijay is in terrific form, cracking one-liners that have us break out into a smile, make self-referential punches and show earnestness in the sentimental moments".

[96] Prem Udayabhanu of Onmanorama narrated Varisu as "A throwback to the formula era – a mix of traditional family values a prodigal heir and a fortune awaiting business inheritance".

[98] Srinivasa Ramanujam of The Hindu wrote "Beyond Varisu's staid plot and saccharine emotional beats, that's what stays in your mind in this Vamshi Paidipally directorial".

[99] Priyanka Thirumurthy of The News Minute gave the film 3.5 out of 5 stars and wrote "In short, Varisu is a predictable but enjoyable family drama.

[100] Haricharan Pudipeddi of Hindustan Times wrote "As a viewer if you had walked in with your expectations in place after watching the trailer, you won't be disappointed".

[104] Navein Darshan of Cinema Express gave the film 3.5 out of 5 stars and wrote "The best among them is Vijay casually taking a dig at family dramas while making a confident statement".

[105] Vivek MV of Deccan Herald gave the film's rating 2.5 out of 5 stars and wrote "Beast from Nelson's was a misfire, yes, but it was at least encouraging to see Vijay collaborating with a youngster.

[106] Lakshmi Subramanian of The Week gave the film's rating 1.5 out of 5 and wrote "Although the music is sufficiently peppy and there are some emotional scenes, the movie has nothing new to offer and may disappoint even hardcore Vijay fans".

The AWBI ordered Sri Venkateswara Creations to submit an explanation to them for their violation within seven days, or face legal action.