Tymofiy Mylovanov graduated from Kyiv Polytechnic Institute (Management) in 1997 and Kyiv-Mohyla Academy majoring in Economic Theory in 1999. In 2004 he gained PhD in Economics at the University of Wisconsin-Madison (USA).

During his professional career, he taught for a long time at the European and American higher educational institutions, including Rheinische Friedrich–Wilhelms–Universität Bonn, University of Pennsylvania and University of Pittsburgh.

Tymofiy’s research interests cover areas such as theory of games and contracts, institutional design. His scholarly articles on these topics have been published in the leading international academic editions, including Econometrica, American Economic Review, the Review of Economic Studies. During the Revolution of Dignity, jointly with like-minded associates, leading economists of Ukraine and the world, he founded the VoxUkraine platform aimed to increase the level of economic discussion in Ukraine. Tymofiy Mylovanov has been a member of the Academic Supervisory Board of Kyiv School of Economics for a long time.

On July 7, 2016, the Verkhovna Rada of Ukraine elected Tymofiy Mylovanov to the Board of the National Bank of Ukraine, and since October 2016 and until August 2019 he has been holding the position of Deputy Chairman of the Board. On August 29, 2019, Tymofiy Mylovanov was elected Minister of Economic Development, Trade and Agriculture of Ukraine. In 2014 and 2015 (the rating did not come out anymore) Forbes Ukraine included Tymofii Mylovanov in the ranking of the best Ukrainian economists.