Lisa Marie Eilbacher was born on May 5, 1956 in Dhahran, Saudi Arabia, the daughter of an American oil company executive. She was raised in France. Her sister Cindy is also an Actress, best known for portraying Jerry Van Dyke's daughter on the series My Mother the Car.

Eilbacher is married to Bradford "Brad" May, whose work in photography and other behind-the-scenes areas of television and film has been considerable since the late 1970s. He directed Eilbacher in the 1986 The Twilight Zone episode "Nightsong".

Eilbacher worked steadily through the 1980s and 1990s, though in recent years her appearances have been few.

Eilbacher was also featured in the 1983 miniseries The Winds of War, playing Madeleine Henry. Eilbacher starred as Callie Shaw in The Hardy Boys Mysteries in 1977. The same year she appeared in the episode "The Innocent" of the short-lived Logan's Run TV series. She also appeared in the 1974 television movie Bad Ronald, 1981's This House Possessed, and several other theatrical and television films and episodes of television series. This House Possessed reunited her with Parker Stevenson, with whom she had worked on The Hardy Boys Mysteries.