Vernon Presley, 63, the father of the late rock 'n' roll star Elvis Presley, died of cardiac arrest Tuesday at Baptist Hospital. He had been ill with heart ailments for sometime.

Mr. Presley was born in Tupelo, Miss., and was a laborer until his son gained fame and fortune. The Presley family arrived in Memphis in 1948 with most of their belongings crammed into a 1939 Dodge.

After Elvis Presley became an international singing sensation, his father managed his affairs at Graceland, his mansion in Memphis, and traveledwith him on tours. The rock star died on Aug. 16, 1977, and his father was named executor of his estate.

The value of Elvis Presley's estate has not been determined. But according to records filed in probate court last December, it had earned almost $5 million since the singer's death. Most of it was left to Elvis Presley's daughter, Lisa Marie.

The Senior Presley received a salary of $72,500 a year as executor of the estate.

Mr. Presley's first wife and the mother of Elvis, Gladys Smith Love Presley, died Aug. 14, 1958. On July 3, 1960, Mr. Presley married Davada (Dee) Mae Elliott Stanley. That marriage ended in divorce in November 1977.

Mr. Presley's survivors include his mother, Minnie Presley, of Mamphis; a brother, Vester, of Memphis; three sisters, Mrs. E.P. Biggs and And Lorene Pritchett of Memphis, and Gladys Dowling of Fort Lauderdale, Fla., and his granddaughter, who lives in Los Angeles with Priscilla Beaulieu Presley, the singer's former wife. CAPTION: Picture, VERNON PRESLEY