Fan was born in Qingdao, Shandong, and raised in Yantai, Shandong. She graduated from Shanghai Xie Jin's Star School and Shanghai Theatre Academy.
In December 2007,Fan Bingbing won the Best Supporting Actress Award at the 44th Golden Horse Film Awards for her role in The Matrimony. Fan also won the Best Actress Award of 4th Eurasia International Film Festival for the film Lost in Beijing. The same year, Fan started her own studio, Fan Bingbing Studio. The studio's first television production was Rouge Snow, followed by Jin Da Ban De Zuihou Yiye.
In 2008. Fan started an arts school in Huairou, Beijing, and served as its principal, but the school was actually run by her parents. She also became the leader of the acting team of West Movie Group's arts center.
Fan co-starred with many actors, such as Jackie Chan in Shinjuku Incident, Zhang Ziyi in Sophie's Revenge, Donnie Yen and Nicholas Tse in Bodyguards and Assassins, Ge You in Sacrifice, Nicolas Cazalé and David Carradine in Stretch.
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In 2011, Fan appeared on the 64th Cannes Film Festival's red carpet and promoted her film My Way together with director Kang Je-gyu and South Korean actor Jang Dong-gun along with Japanese actor Joe Odagiri.In October, she became one member of the International Competition Jury of 24th Tokyo International Film Festival.