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Drescher was born in Kew Gardens Hills, New York, the daughter of Sylvia, a bridal consultant, and Morty Drescher, a naval systems analyst. Her family is from Southeast and Central Europe. Her maternal great-grandmother Yetta was born in Focșani, Romania, and emigrated to the United States, while her father's family came from Poland. She has an older sister, Nadine. Her family is Jewish.
Drescher attended Hillcrest High School in Jamaica, Queens. She graduated from Hillcrest High School in 1975.
She also attended Queens College, City University of New York, but dropped out in her first year. She then enrolled in cosmetology school.
Drescher's first break was a small role as the dancer Connie in the blockbuster movie Saturday Night Fever (1977), in which she delivered the line "So, are you as good in bed as you are on the dance floor?" to John Travolta's character. A year later, she began to gain more attention in films such as American Hot Wax (1978) and Summer of Fear (1978). She also took on a rare dramatic role in the 1981 Miloš Forman film, Ragtime.
During the 1980s, Drescher found moderate success as a character actress with memorable roles in films such as Gorp (1980), The Hollywood Knights (1980), Doctor Detroit (1983), The Big Picture (1989), UHF (1989), Cadillac Man (1990), and memorably in This Is Spinal Tap (1984) as publicist Bobbi Flekman. She also made an appearance in a second-season episode of Who's the Boss? in 1985 as an interior decorator. She also had an appearance on Night Court as a woman with dissociative identity disorder who flips from a prude to a sexually minded woman and ends up in a hotel with ADA Dan Fielding.
In 1991, Drescher co-starred on the short-lived CBS sitcom Princesses. In the early-to-mid 1990s, she voiced "Peggy" from The P Pals on PBS (the woman with the flower on her hat).
Drescher and her husband Jacobson created their own television show, The Nanny, in 1993. The show aired on CBS from 1993 to 1999, and Drescher became an instant star.
Drescher appeared in Jack (1996), directed by Francis Ford Coppola, The Beautician and the Beast (1997) (for which she was also executive producer) and Picking Up the Pieces (2000) co-starring Woody Allen. She was also the voice of "Pearl" in Shark Bait (2006).
Drescher made her Broadway debut on February 4, 2014, in the revival of Rodgers and Hammerstein's Cinderella. She replaced Harriet Harris as stepmother Madame for a 10-week engagement. She reprised the role during the North American tour's engagement in Los Angeles, lasting from March through April 2015. Drescher's previous stage performances include an off-Broadway production of Nora Ephron's Love, Loss, and What I Wore, and Camelot at the Lincoln Center with the New York Philharmonic.
She is best known for her role as Fran Fine in the hit TV series The Nanny (1993–99), and for her nasal voice and thick New York accent.
Drescher has been the recipient of the John Wayne Institute's Woman of Achievement Award, the Gilda Award, the City of Hope Woman of the Year Award, the Hebrew University Humanitarian Award, and the Albert Einstein College of Medicine's Spirit of Achievement Award.
In 2006, she was honored with the City of Hope Spirit of Life Award, which was presented to her by Senator Hillary Clinton. On April 10, 2010, she was guest of honor at the "Dancer against Cancer" charity ball held at the Imperial Palace, Vienna, Austria, where she received the first "My Aid Award" for her achievements in support of cancer prevention and rehabilitation.
In 2008, Drescher supported Senator Hillary Clinton for the Democratic Party presidential nomination. She attended a Super Democrat rally for Clinton. Drescher said that she had been considering a run for the United States Senate in 2008 to succeed Hillary Clinton, but ultimately decided against it. She endorsed Barack Obama for re-election in 2012. In 2017, she said in an interview she was explicitly anti-capitalist and was happy to see the Green Party gaining some traction.
In April 2014, Drescher presented at Broadway Cares/Equity Fights AIDS Easter Bonnet Competition with Bryan Cranston, Idina Menzel and Denzel Washington, after raising donations at her Broadway show Cinderella. Drescher became an ordained minister with the Universal Life Church Monastery so that she could legally officiate LGBT wedding ceremonies.
Fran Drescher met her future husband, Peter Mark Jakobson while attended Hillcrest High School, whom she married in 1978, at the age of 21. They divorced in 1999 and they had no children.
On September 7, 2014, Drescher and controversial scientist/politician, Shiva Ayyadurai, participated in a ceremony at Drescher's beach house. Both tweeted that they had married and the event was widely reported as such. Ayyadurai later said it was not "a formal wedding or marriage", but a celebration of their "friendship in a spiritual ceremony with close friends and her family." The couple parted ways two years later.
