Zeenat Aman was born in Mumbai in 1951 to Amanullah Khan. Her father, Amanullah Khan, was related to the Bhopal State ruling family. He was a script Writer for such movies as Mughal-e-Azam and Pakeezah. Amanullah Khan often wrote under the nom de plume "Aman", which she later adopted as her second name on screen. He died when Aman was 13. Her mother married a German man called Heinz. Zeenat Aman's mother's name is Scinda (Vardhini) Heinz. Aman's mother obtained German citizenship. She is the cousin of actor Raza Murad and niece of actor Murad.

She did her schooling in Panchgani and went to University of Southern California in Los Angeles for further studies on student aid, but she could not complete her graduation. Upon her return to India, she first took up a job as a Journalist for Femina and then moved on to modeling. One of the first few brands that she modeled for was Taj Mahal Tea in 1966. She was the second runner-up in the Miss India Contest and went on to win the Miss Asia Pacific in 1970.

She appeared on every Hindi film magazine's cover during the 1970s. In December 1974, Cine Blitz magazine was launched with Zeenat Aman on its cover, a testimony to her popularity at the time.

Dev Anand offered Zaheeda (his second heroine in Prem Pujari) the role of his sister in Hare Rama Hare Krishna (1971). Not realizing the importance of this secondary role, Zaheeda wanted the lead female part (eventually played by Mumtaz) and she opted out. Zeenat Aman was chosen as a last-minute replacement.

Her hip looks in Yaadon Ki Baaraat (1973) as the girl carrying a guitar, singing Churaliya hai tumne jo dil ko (in Asha Bhosle's voice) has won her more popularity and the hearts of millions of fans.

Aman's entry into Hollywood also backfired when Krishna Shah Shalimar (1978), co-starring Dharmendra and international names like Rex Harrison, John Saxon and Sylvia Miles, proved to be a failure in the United States and in India. Aman possessed a convent schoolgirl accent and a penchant for revealing dresses. 1978 could have been a disaster year for her, because of the diminishing box office returns of Shalimar and discouraging critical reviews of Satyam Shivam Sundaram but Aman had other successful commercial films during that year such as Heeralal Pannalal and Chor Ke Ghar Chor, yet it was Don that came to the rescue with its success. Ironically, her reasons for accepting the role in Don were altruistic and she didn't even take any remuneration for it because she wanted to help the Producer Nariman Irani who died midway through filming. Her role of a Westernized revenge-seeking action heroine contributed to the film's huge success and her fans reconnected with her. Westernized heroines such as Parveen Babi and Tina Munim now followed in her footsteps by the late 1970s. Aman continued to act in hits such as Dharam Veer, Chhailla Babu and The Great Gambler.

By the beginning of the 1980s, multi-starrer films became a trend and Zeenat Aman was increasingly asked to just provide sex appeal in hero-oriented films, despite success in so many films. In contrast to this trend was her performance as a rape victim seeking justice in B. R. Chopra's Insaaf Ka Tarazu (1980), for which she received a Filmfare Best Actress nomination. This film was followed by success in the love triangle Qurbani (1980 film), Alibaba Aur 40 Chor, Dostana (1980) and Lawaaris (1981). Her last role as the female lead was in the movie Gawahi, a courtroom drama in 1989.

Aman came back to the silver screen after a decade doing a cameo role in the film Bhopal Express (1999).

Aman went on to do roles in Boom (2003), Jaana... Let's Fall in Love (2006), Chaurahen (2007), Ugly Aur Pagli (2008), Geeta in Paradise (2009), Dunno Y... Na Jaane Kyon (2010) and Strings of Passion (2012).

In 2004, she appeared as Mrs. Robinson in the play The Graduate staged at St Andrew's auditorium in Mumbai. Zeenat Aman had a TV show called In Conversation with Zeenat made by B4U TV and also made an appearance along with Hema Malini in the popular show Koffee with Karan hosted by Karan Johar.

She received a Lifetime Achievement Award during the Zee Cine Awards function in 2008 as a recognition of her contribution to Hindi Cinema. She also received An Outstanding Contribution to Indian Cinema award at IIFA awards 2010 held at Colombo, Sri Lanka. She dedicated this award to her mother.

Zeenat Aman's persona was a contrast to many of the more conservative stars of the era. At a time when heroines were obedient wives and lovers on the screens of Hindi Cinema, Aman was drawn to more unconventional roles – she was cast as the opportunist who deserts her jobless lover for a millionaire (Roti Kapda Aur Makaan), the ambitious girl who considers having an abortion in order to pursue a career (Ajnabee), the happy hooker (Manoranjan), the disenchanted hippie (Hare Rama Hare Krishna), the girl who falls in love with her mother's one-time lover (Prem Shastra) and a woman married to a caustic cripple, but involved in an extramarital relationship (Dhund). She managed to balance these roles with acting in more conventional films such as Chori Mera Kaam, Chhailla Babu, Dostana and Lawaaris, which is considered by many to be a landmark in Indian Cinema. Encyclopædia Britannica's "Encyclopedia of Hindi Cinema" wrote: "Zeenat Aman had a definite impact on the characterization of the heroine in Hindi films. With films such as Hare Rama Hare Krishna and Yaadon Ki Baraat, she fashioned the image of the youthful and westernized woman in Hindi cinema."