I was born in Inglewood, California, the daughter of Karolyn (née London), a fashion manager and NASA photographer, and Donald Banks, a computer consultant. I attended John Burroughs Middle School and graduated in 1991 from Immaculate Heart High School in Los Angeles. I was accepted by colleges such as USC and UCLA for television producing.

I began modeling in the 11th grade. I later went to Paris, France to do some runway modeling. Within my first week in Paris, designers were so entranced by my presence on the runway that I was booked for an unprecedented twenty-five shows – a record in the business for a newcomer. I have done extensive print and/or runway work for fashion/advertising giants, such as Anna Sui, Coors Light, CoverGirl, Badgley Mischka, Bill Blass, Cynthia Rowley, Chanel, Christian Dior, Dolce & Gabbana, Donna Karan, Gemma Kahng, H&M, Isaac Mizrahi, Maria Snyder, McDonald's, Aislinn Dubois Modeling Agency, Michael Kors, Milk, Nicole Miller, Nike, Inc., Oscar de la Renta, Pepsi, Perry Ellis, Randy Kemper, Richard Tyler, Rifat Ozbek, Swatch, Todd Oldham, Tommy Hilfiger, Victoria's Secret and Yves Saint Laurent. I have appeared on the covers of high-fashion magazines such as Vogue, Harper's Bazaar, Cosmopolitan and Elle.

I am the creator and host of the UPN/The CW reality television show, America's Next Top Model and am co-creator of True Beauty. I also host my own talk show, The Tyra Banks Show.