Yukhnovskyi was born on 1 September 1925, in Kniahynyne village, Dubno powiat, Wołyń Voivodeship (Poland).

In 1969 Yukhnovskyi, at that time Doctor of Physics and Mathematics led the newly organized Department of Statistical Theory of Condensed Matter.

On 15 May 1990, he became the leader of the first ever opposition party in the Ukrainian SSR parliament named "Narodna Rada" (People’s Council).

[1] Yukhnovsky was an author of over 400 scientific papers, five books and a textbook "Osnovy kvantovoyi mekhaniky" (Fundamentals of Quantum Mechanics).

Ihor Yukhnovskyi was the head of All-Ukrainian Union of World War II veterans.