Density-based perturbation theory within the Hohenberg-Kohn (HK) formalism of density functional theory (DFT), developed recently by us, is employed to calculate hyperpolarizabilities of helium-like ions from their ground-state densities obtained from their respective Hylleraas wavefunctions. The only approximation made is that of the local density (LDA) for exchange and correlation. Use of densities — instead of wavefunctions — in density-based perturbation theory together with simple approximate energy functionals makes our calculations much simpler than those based on wavefunctions. They lead, however, to accurate results.