In June, Chiranjeevi's friend and PRP founder member P. Mitra quit the party due to 'personal reasons'.
Raju had joined the PRP in March this year. He had then said that he was planning to retire from politics but decided to join the PRP as he was impressed with Chiranjeevi's policies and commitment.
Raju, who represented Narsapur Lok Sabha seat in West Godavari district, was minister of state for external affairs in the National Democratic Alliance (NDA) government from 2000 to 2004. He, however, lost the 2004 elections from the same constituency.
He began his film career in 1966 and has acted in over 180 films.