"[5] Gulacy's initial work as a Marvel freelancer was penciling the 15-page story "Morbius, the Living Vampire" in Adventure into Fear #20 (cover-dated Feb. 1974), written by Mike Friedrich and inked by Jack Abel.

That initial story and one in the next issue were written by Steve Englehart, but issue #20 (Sept. 1974), co-written by Gerry Conway and Doug Moench, and the same month's Giant-Size Master of Kung Fu #1, written by Moench, marked the beginning of a Moench–Gulacy collaboration on the increasingly complex, cinematic feature about the son of longtime pulp fiction supervillain Fu Manchu, who teams with British intelligence to bring down his father's labyrinthine plans for global domination.

[7] Comics historian Les Daniels observed that, "Ingenious writing by Doug Moench and energetic art by Paul Gulacy brought Master of Kung Fu new life.

[9] In the later 1970s, Gulacy took on occasional other assignments, including the covers of the science fiction film adaptation Logan's Run #6 (June 1977) and of the Western The Rawhide Kid #147 (Sept. 1978), both for Marvel;[7] and a 10-page preview of the graphic novel Sabre: Slow Fade of an Endangered Species, with writer Don McGregor, in the comics-magazine Heavy Metal vol.

[10] With writer Don McGregor, Gulacy created one of the first American modern graphic novels, Eclipse Books' Sabre: Slow Fade of an Endangered Species.

Gulacy also drew the cover and the six-page story "Libido", written by his Master of Kung Fu colleague Doug Moench, in the comics magazine Epic Illustrated #3 (Fall 1980).

[7] During the 1990s, Gulacy worked primarily on Batman and such science fiction movie properties as Terminator, Predator, and Star Wars, and co-created the Valiant Comics crime series Grackle.

Spy, and that same year returned to his signature character with his and Doug Moench's six-issue Marvel miniseries Shang-Chi: Master of Kung Fu (November 2002 – April 2003).