Venkatesh Daggubati was born to Ramanaidu Daggubati and Rajeshwari. He was born in the village of Karamchedu, Prakasam district on 13th December 1960. His father is a film producer and former MP and also referred to as a film mogul. His mother was a housewife. He has an elder brother, Suresh Babu Daggubati, who runs Suresh Productions, and a younger sister, Lakshmi.   

Venkatesh did his schooling at Don Bosco, Egmore, Chennai. He earned a Bachelor of Commerce degree from Loyola College in Chennai and an MBA from the Middlebury Institute of International Studies in Monterey, USA. After returning to India, he wanted to get into film production but became an actor.  

Venkatesh has won 7 Nandi Awards and several South Filmfare awards. He received the highest number of Nandi Awards as best actor. He also owns a share in Suresh Productions a noted Production house in South India. He is the brand ambassador to Manapuram General finance and Leasing Ltd and Ramraj Cottons.   

Probably he is the only actor in Telugu Film Industry who is averse to controversies. Throughout his career, he hasn't been involved in any controversy.   

He married Neeraja in 1985. The couple has four children, three daughters, and a son. Aashritha is the eldest followed by Bhavana, Hayavahini, and Arjun. His eldest daughter Aashritha Daggubati married Vinayak Reddy, the grandson of R. Surender Reddy, the chairman of Hyderabad Race Club.