Born into a priest family, Holubovych as was expected to start his education in the Podilia Spiritual Seminary of Ivan Bohoslov (Kamianets-Podilskyi).

Considering all the complications that involved to reinstate him back in school, he nonetheless chose to ignore the warning and together with his friend Ivan Nemolovsky, who just returned from Belgium, established the Ukrainian Socialist-Revolutionary Party.

Due to the Soviet aggression on Ukraine without declaration of war and poor management of the State Affairs on the part of Volodymyr Vynnychenko, the Central Council was forced to appoint Vsevolod Holubovych as the head of Ukrainian government on January 31, 1918.

After a German-backed coup d'état, which installed Pavlo Skoropadskyi as Hetman of Ukraine on April 29, Holubovych was arrested and convicted in kidnapping of banker A. Dobryi.

In 1931 he was arrested together with his wife in Kharkiv and later convicted now as part of the fictitious Ukrainian National Center and imprisoned in Yaroslavl, Russian SFSR.