[4] Prince Khalid earned a bachelor's degree in Aviation Sciences from King Faisal Air Academy and continued his education in the United States.

He then started flying F-15 S and was also appointed as a Tactical Intelligence Officer in addition to his duties as an F-15 S pilot with the 92nd Squadron of the RSAF 3rd Wing at King Abdulaziz Air Base in Dhahran.

[6][7] Prince Khalid has accumulated nearly 1,000 flying hours and carried out air missions against the jihadist militant group Islamic State of Iraq and the Levant within the International Coalition's efforts.

[16] According to Hürriyet columnist Abdulkadir Selvi, the Director of the Central Intelligence Agency Gina Haspel had possession of the "smoking gun phone call" in which crown prince Mohammad was recorded giving orders to his brother Khaled, then Saudi Arabia's ambassador to the US, "to Silence Jamal Khashoggi as Soon as Possible".

"[17][18] In February 2019, Khalid was appointed Deputy Defense Minister of Saudi Arabia and was replaced by Reema bint Bandar Al Saud as ambassador to the US.

[19] In September 2021, Prince Khalid met with Russian Deputy Minister of Defense Colonel General Alexander Fomin to sign an agreement to develop joint military cooperation between the two countries.

[24] On 5 June 2024, Prince Khalid, together with several senior officials, inaugurated the National Defence University, formerly known as the Saudi Armed Forces Command and Staff College.