He studied classical archaeology in Vienna as a pupil of Otto Benndorf (1838–1907). In 1887 he received his habilitation in Vienna, and in 1889 became the Chair of Classical Archaeology at the University of Freiburg.
In 1896, Studniczka was appointed Professor of Classical Archaeology at the University of Leipzig, succeeding Johannes Overbeck (1826-1895) who had died the previous November. Studniczka was a member of the Saxon Academy of Sciences at Leipzig University.
Studniczka was a leading authority on ancient Greek and Roman art and antiquities. He was responsible for the expansion of the collection of casts of antique sculptures at the Museum of Antiquities at Leipzig which eventually became one of the largest and most impressive collection of casts in Germany. He is also credited for the masterful restoration of the Artemis-Iphigenie-Gruppe.