Karun Chandhok was born on 19 January 1984 in Madras (present-day Chennai), Tamil Nadu, to Vicky Chandhok, a multiple-time Indian rallying champion and president of the Federation of Motor Sports Clubs of India. His father is of Punjabi descent and his mother is Tamil Brahmin. His parents married in 1982, and Karun has a younger brother, Suhail Chandhok, who went on to become a sports commentator and television presenter.

Having finished his 12th Standard at the Sishya School in Chennai, Karun put a full stop to formal studies and devoted himself entirely to his racing career. He won the Indian National Racing Championship in 2000 and the Formula 2000 Asia Championship in 2001, becoming the youngest ever Asian Formula Champion.

He rose through the ranks of junior formulae racing to become test driver for the Red Bull Racing Formula 1 team in 2007 and 2008, before competing in the Formula 1 World Championship for Hispania Racing Team in 2010 and Team Lotus in 2011. Across his F1 career, Chandhok started 11 Grands Prix, becoming the second Indian driver in F1 history after Narain Karthikeyan.

Since 2012, he competed in sportscars, becoming the first Indian to ever compete in the iconic Le Mans 24 Hours race, finishing in the top six in class in 2012, 2013, and 2015. He also joined Mahindra Racing for the inaugural Formula E season in 2014–2015.

As of 2019, Karun has been a part of the Sky Sports F1 team, who broadcast to 62 countries around the globe. He currently resides in the United Kingdom with his wife Akshara and their two sons.