From 1890 to 1895, she attended classes at the Moscow School of Painting, Sculpture and Architecture, where she studied with Illarion Pryanishnikov, Sergei Korovin and Abram Arkhipov.

In 1916, she published a book of monotypes called Paris on the Eve of the War and donated the proceeds to Russian artists who were stranded in France.

[2] A prolific exhibitor, she participated in virtually all of the shows held in the Soviet Union as well as several abroad, including the Venice Biennale (1928).

Elizaveta was a younger sister of Nikolai Sergeyevich Kruglikov (1861–1920), an engineer best known for his service as deputy chief of construction of the Ussurian Railway [ru] (Vladivostok-Khabarovsk).

Elizaveta painted a portrait of her brother[8] in 1910, an excellent likeness of Nikolai Sergeyevich sitting on the porch of his country home and holding a book.