Stojko was born in Newmarket, Ontario, Canada to a Hungarian mother and Slovenian father and was named after Elvis Presley, of whom his parents were fans.

[1] His father arrived in Canada on a boat in 1955 and his mother, Irene (Hungarian: Irén), fled the Soviet invasion of Hungary in 1956.

He later said he had studied VHS tapes of Kurt Browning, Brian Boitano, Alexander Fadeyev, and Jozef Sabovčík to help him master the quad.

[11] At the 1992 Winter Olympics in Albertville,[12] he finished 7th despite skating a technically strong routine, but a month later he made his first appearance on a major international podium when he placed third at the 1992 World Championships behind winner Viktor Petrenko and Kurt Browning.

At the 1994 Canadian Championships in Edmonton, Stojko defeated Kurt Browning in the free skate to win his first national title.

For Stojko's free skating program this season, he used music from the soundtrack of Dragon, the 1993 film biography about Bruce Lee.

At the 1996 World Championships in Edmonton, Alberta, Stojko fell on his triple axel combo jump, leaving him in seventh place after the short programme.

In the free programme he included a quadruple jump combination (the only one in the competition) and moved him all the way up to fourth, just off the podium behind American Rudy Galindo, who won the bronze.

Approximately halfway through the free skate, Alexei Urmanov, leader after the short programme, withdrew from the event with an injury, while Ilia Kulik, in third, had a performance that put him out of contention.

He later stated in an interview that he was already feeling stiff and sore during the warm-up prior to the long program, and therefore downgraded his planned quadruple toe loop to a triple, likely costing him a chance at gold.

Stojko briefly reinstated as an Olympic-eligible skater and publicly declared his intention to compete in the 2006 Olympics in Turin, Italy, before changing his mind and resuming his professional skating career.

[15] He wrote an article criticizing the figure skating judging system used during the 2010 Olympics, saying that it did not reward athletes for undertaking quadruple jumps.

Stojko participated in ISF Entertainment's acrobatic ice show, "A Rock & Roll Fantasy", in the July 2010 Calgary Stampede.