Alovsat Gazanfar Bakhshiyev was born on 22 June 1956 in the village of Karimbayli, in the Nakhichevan Autonomous Soviet Socialist Republic.

Bakhshiyev started his career in 1977 as an assistant accountant in the Ilic County Utilities Department.

Since August 1994 until February 2000, Bakhshiyev served as the Minister of Finance of the Nakhchivan Autonomous Republic.

Since 11 February 2000 Bakhshiyev has been serving as the Prime Minister of the Nakhchivan Autonomous Republic.

In 2006 he was awarded the honorary title of Civil Servant of the Autonomous Republic of Nakhchivan.