Giuseppe Paolino, 72, stabbed his son Nunzio on Wednesday afternoon at their home in Sant’Alberto, in Italy’s central Emilia-Romagna region, Italian media reported.
He then smoked a cigarette before taking an axe to his son’s body, according to a report in Corriere del Mezzogiorno.
The pensioner called the police to confess to the crime before phoning his daughter who lives nearby, Ravenna Today said.
Paolino’s daughter was the first to arrive on the scene and was soon taken away in an ambulance, suffering from shock, the news site said.
Her father, covered in blood and with a bandaged arm and hands, was held by police.
The pensioner had been living with his 36-year-old son for some time. His son was unemployed and the pair reportedly often fought over money.
The murder comes just days after another Italian pensioner killed his son.
On Sunday morning, 79-year-old Ezio Murtas shot and killed the 40-year-old, a labourer, after a row at their home in Escolca, Sardinia, La Nuova Sardegna reported.