Yusifzadeh was born in Pirshagi settlement of Baku on January 14, 1930, during the birthday party of his mother, for which his father named him Khoshbakht which means Happy in Azerbaijani. According to his father Baghi Yusifzade, Khoshbakht was the "first child in Pirshagi to have been born when the music played on".
He is Doctor of Science in Geology and Mineralogy. Khoshbakht Yusifzadeh graduated from the Azerbaijani Institute of Industry (now: Azerbaijan State Oil Academy) in 1952.
He started his career as a geologist and later worked as senior geologist in Neft Dashlary, an offshore city in the Caspian Sea. In 1970, he was appointed Assistant Manager as well as Senior Geologist at the offshore oil and gas production department. Since 1987, Yusifzadeh is Doctor of Science in Geology and Mineralogy, and in 1994, he was appointed Vice-president of SOCAR for Geology, Geophysics and Field Development.
Yusifzadeh is known for having discovered numerous oil and gas fields such as Bahar, Gunashli, Azeri, Chirag, Kapaz, et cetera
Azerbaijan National Academy of Sciences]
He is also a member of Azerbaijan National Academy of Sciences.
