Urmila Matondkar was born on February 4, 1974, in Mumbai, Maharashtra, to Shrikant and Sunita Matondkar. She has an elder sister, Mamta, a former actress, and a younger sister named Pooja. Her elder brother, Kedar Matondkar, worked in the Indian Air Force as an Aircraft Maintenance Technician.

She began her acting career as a child artist with the film "Kalyug (1980)". Her first lead role came with the Malayalam film "Chanakyan (1989)", and her subsequent lead role in Hindi cinema with "Narsimha (1991)", both of which were commercial successes.

She rose to prominence with Ram Gopal Verma's romantic drama "Rangeela (1995)". She also played the leading lady in Malayalam, Telugu, and Tamil films such as "Thacholi Varghese Chekavar (1995)", "Antham (1992)", "Gaayam (1993)", "Indian (1996)" and "Anaganaga Oka Roju (1997)".

She garnered critical recognition for portraying a range of intense characters in several psychological thrillers and horror films, including a serial killer in "Kaun (1999)", an obsessive lover in "Pyaar Tune Kya Kiya (2001)", a possessed woman in "Bhoot (2003)" and a violent avenger in "Ek Hasina Thi (2004)". She has since worked intermittently, including in the Marathi film "Ajoba (2014)".

Urmila Matondkar is known for her acting skills, style statements, and dancing skills. She is a trained classical dancer. Her hobbies include reading books and performing on stage. She has been actively involved in television, serving as a judge on prominent shows such as "Jhalak Dikhla Jaa", "Dance Maharashtra Dance", and "DID Super Moms" from 2008 to 2022.

Urmila Matondkar married Mohsin Akhtar Mir, a Kashmir-based businessman, in 2016. Mohsin is several years younger than Urmila, but their love and admiration for each other prove that age is just a number.

She has appeared in over 60 films. Some of her notable films include "Rangeela", "Satya", "Khoobsurat", "Jungle", "Kaun", "Pyaar Tune Kya Kiya", "Bhoot", and "Ek Hasina Thi".

She has received numerous accolades, including the Filmfare Award, a Screen Award, and a Nandi Award. She has also won an Apsara Award, three Bollywood Movie Awards, and a Zee Cine Award.