Following his uncle"s path, Arkad Chubanov became a mandji (novice) at the age of 9, serving until the age of 13 in 1853. After he completed his studies in 1872, Arkad Chubanov returned home to become a monk in his native khurul. He remained in that position until 1873, when he was elected to replace Koti Badjuginov as "Lama of the Don Kalmyks" - the spiritual leader of the Kalmyk community in the Salsk District of the Don Cossack Host.
Upon becoming the Lama of the Don Kalmyks, Arkad Chubanov promoted education among Buzava (or Don Kalmyk) youth.
In his native Namrovskaia sotnia, for example, Arkad Chubanov established a parish school - the first official school for Buzava youth in the Salsk District and perhaps the first school for Kalmyk boys in general. Arkad Chubanov also compiled and published the Kalmyk lunar calendar.
Arkad Chubanov died in 1894 after serving 21 years as Lama of the Don Kalmyks. He was succeeded by Lama Djimba Mikulinov, the Baksha of the khurul in the Ike Burul aimak.