American bred in Pennsylvania, Lyphard was a son of Northern Dancer out of the mare Goofed.

Germaine Wertheimer gave Lyphard his name in honor of the Ukrainian-born French ballet dancer and choreographer Serge Lifar.

Retired after the end of the 1972 racing season, Lyphard was sent to stand at stud at the Haras d'Etreham near Bayeux in Normandy.

In 1978, Lyphard was sent to stand at Gainsway Farm in Lexington, Kentucky, where he became famous as the sire of a number of important horses.

He was one of the oldest Thoroughbred horses in the world by the time he was humanely euthanised on 10 June 2005, as a result of the infirmities of very old age.