This paper proposes an aspect based approach for sentiment analysis in Malayalam movie and product reviews. Sentiment Analysis is a cognitive process in which user's feeling and emotions are extracted. Now a day's people use social networking sites to discuss about movie reviews and product reviews so that internet itself can act as a recommendation system for its users. Thus social media monitoring, and VoC (Voice of the Customer) to track customer reviews, survey responses, competitors etc are becoming important day by day. Web has also become a medium for business analytics and situations in which text needs to be analyzed. Here comes the significance of Sentiment Analysis. Only polarity classification done by normal sentiment analysis task doesn't contribute much to the users. If the system also finds the aspect on which the user is commenting sentiment analysis task become more useful. The significance of aspect based sentiment analysis comes here. This system does sentence level aspect based sentiment analysis in Malayalam with 84.7\% accuracy for Malayalam movie and product reviews.