He graduated from the Theological Institute of the University of Bucharest in 1985, received a Diplôme d"études approfondies (Master of Advanced Studies) at the Université de Paris IV-Sorbonne in 1991 and a Doctor of Philosophy in Religious Anthropology and Compared History of Religions from the same university in 1994.
He was the Minister of Foreign Affairs of Romania between December 2009 and January 2012. He continued with his post-doctoral studies as a Fellow of the New Europe College of Bucharest until 1996. He also lectured on Religious Anthropology at the Department of Philosophy of University of Bucharest.
Baconschi was Director of Anastasia Publishers in Bucharest and editor-in-chief of the Spiritual Life on Romanian National Public Television.
From October 2006 until August 2007, he served as the Presidential Advisor on political affairs with the Presidential Administration. Baconschi held offices of the Director General in 2001 and State Secretary for Global Affairs at the Ministry of Foreign Affairs of Romania from January 2005 to September 2006.
On December 23, 2009, he was appointed the Minister of Foreign Affairs of Romania. As the Foreign Minister, Baconschi has been a proponent of closer ties with the United States and further integration into North Atlantic Treaty Organization. Domestically, he has been criticized by the Roma community for his remarks allegedly relating Roma ethnicity to criminal elements.
Baconschi was fired by Prime Minister Emil Boc on January 23, 2012 following a blog post where the Foreign Minister described anti-government protesters as "clueless and inept slum dwellers.".