Yalovy was born in 1895 in the village of Dar-Nadezhda, Kostiantynhrad uyezd, in the Poltava Governorate (today Kharkiv Oblast), into the family of a volost scribe.

About the same time he also worked as a chief editor of Peasant and Worker, the newspaper produced by the instructional-agitation train of the All-Ukrainian Central Executive Committee under the leadership of Grigory Petrovsky.

On 20 November 1926 he was dismissed, together with Mykola Khvylovy, from the editorial board of Chervony Shliakh by the order of the Politburo of the Central Committee of the Communist Party of Ukraine (bilshovyks).

On 31 May 1933 he was expelled from the CPU(b) on the grounds that he had infiltrated its ranks with the aim of creating a counter-revolutionary fascist organization that had the goal of overthrowing the Soviet government.

Yalovy was accused of spying for the Polish consulate, of Shumskism (support for Ukrainian autonomy and Ukrainizaton associated with Alexander Shumsky, and of preparing to assassinate Pavel Postyshev, the first secretary of the CPU(b).

A few years later, during the Great Purges, Yavlovy was summarily sentenced on 9 October 1937 at a session of the extrajudicial special NKVD troika of the Leningrad Oblast to be shot at one of the killing field-burial grounds in Karelia.