Mahira Hafeez Khan was born on December 21, 1984, in Karachi, Pakistan. She attended Foundation Public School in Karachi and later moved to California for higher education. She enrolled at Santa Monica College and then at the University of Southern California for her bachelor's degree. However, she did not complete her undergraduate degree and returned to Pakistan in 2008.

Mahira Khan started her career as a Video Jockey (VJ) in 2006. She hosted a live show called "Most Wanted" on MTV Pakistan three times a week. In 2008, she anchored AAG TV’s reality program "Weekends with Mahira," where she played music videos, interacted with famous guests, and answered viewer calls.

She made her acting debut in the social drama film "Bol" in 2011. The same year, she also appeared on television with the drama series "Neeyat". She is best known for portraying the role of Khirad Hussain in the romantic-drama "Humsafar" for which she received numerous awards.

She has acted in several successful Pakistani films such as "Bin Roye" (2015), "Ho Mann Jahaan" (2015), "Superstar" (2019), and "The Legend of Maula Jutt" (2022). She made her Bollywood debut with the action romance "Raees" (2017) opposite Shah Rukh Khan. She made her debut as a producer with the sports web series "Baarwan Khiladi" in 2022.

Mahira Khan is the recipient of several accolades, including six Lux Style Awards, and six Hum Awards. She was honored with Contribution to Film and Activism by the UK Asian Film Festival. She has also won a series of local awards for 'Best Actor Female', including the Masala Awards, the Femina ME Awards, Vogue Beauty Awards, and most recently the Beirut International Awards Festival for her work in the Film and TV Industry.

Mahira Khan met Ali Askari in 2006 in Los Angeles and married him in 2007. They have a son, born in 2009. The couple got divorced in 2015. Mahira then married businessman Salim Karim in an intimate ceremony on October 2, 2023, in Bhurban.

Mahira Khan leads a comfortable lifestyle and is content with her earnings. She has been a prominent ambassador for various renowned brands such as Lux, QMobile, Gai Power Wash, Huawei, Sunsilk, Veet, and L’Oréal, further adding to her financial success and influence in the industry.