Raza was born in 1922 in Madhya Pradesh, India, and studied at the Nagpur School of Art and the Sir J.J. School of Art. He became a founding member of the Progressive Artists' Group, who endeavoured to develop a modernist art language and bring about a resurgence in the Indian art world.

After receiving a French Government scholarship, he traveled to Paris in 1950 to study at the École nationale des beaux-arts. In 1956, Raza was awarded the Prix de la Critique in Paris, and was exhibiting in both India and abroad. He has exhibited in the Venice, Sao Paulo and Menton Biennales, and has held retrospective shows in Mumbai, Bhopal and New Delhi.

The art department of the University of California at Berkeley invited him to be a visiting lecturer in 1962. In 1981, India awarded Raza the Padma Shri, which is given to recognize distinguished service to the nation. Raza currently lives and works in Paris and in Gorbio in Southern France