Shkedy was born in Israel; his father was a Hungarian-Jewish Holocaust survivor, whereas his mother was an Egyptian-Jewish immigrant.

Shkedy, a resident of Yehud-Monosson, was born in Israel and after graduating from high school in Kfar Saba he was conscripted into the IDF in 1975.

He was promoted to commander of the Israeli Air Force on 4 April 2004 and was succeeded in the position by Aluf Ido Nehoshtan upon his retirement on 13 May 2008.

General Shkedy was appointed front commander against countries that do not border Israel.

Although the appointment was reported in late August 2006, it was said to have occurred before the Second Lebanon War began.