Babak Huseynov was born on November 24, 1980, in Baku. In 1997, Babak entered the Finance and Credit department of the Azerbaijan State University of Economics, graduating with a bachelor's degree in 2001. In 2003-2005, he completed MBA in Business Administration at McNeese State University, US, with distinction and received a scholarship. In 2010-2013, Babak received MS degree in Industrial Engineering from Columbia University, USA.

In 2005-2011, Huseynov was a specialist at “Hess Corporation” in the USA, and then a leading specialist in production allocation. Between 2011-2013, he led the management and finance department at the representative office of “Hess Corporation” in Equatorial Guinea, from 2013-2017, he was the head of oil and gas production department, then from 2018-2022, served as a strategy adviser to the vice-president and director of planning for long-term field development.

From September 26, 2022, to July 28, 2023, Huseynov served as an adviser to the president of SOCAR.

By the Decree of the President of the Republic of Azerbaijan Mr. Ilham Aliyev dated July 28, 2023, Babak Huseynov was appointed as the vice president of the State Oil Company of Azerbaijan Republic.

He is married and has two children.