Known for her roles in The Name of the Rose, Night Across the Street, and other French and Chilean films, Vargas also appeared in several episodes of the television series Fête de Famille.
Before rising to fame, she attended acting workshops taught by Tania Balaschova (in Paris, France) and Yves Pignot (in Los Angeles, California).
Her ability to fluently speak Spanish, English, and French allowed her to appear in numerous international films.
Though she was born in Chile, she was raised primarily in France.
She worked with director Samuel Fuller on the 1989 film Street of No Return.