He studied business and law at Lund University.
Before singing in ABBA, he performed with the Hootenanny Singers, a popular band in Scandinavia.
He married Agnetha Fältskog on July 6, 1971; after their divorce on June 9, 1980, he married Lena Kallersjö on January 5, 1981. He has three daughters, Anna, Emma and Linda, and a son, Peter.
Ulvaeus and Benny Andersson were close friends as well as members of ABBA.