Ibrahimbeyov was born in Baku, Azerbaijan to Mammad Ibrahimbeyov and Fatima Meshadibeyova. He was the older brother of Rustam Ibragimbekov, a prominent Azerbaijani screenwriter. In 1960, he received a B.A. in Industrial and Civil Construction from Baku Polytechnical Institute. He later worked at the Azerbaijan SSR Ministry of Construction and tried himself as a reporter representing Azerbaijan at the All-Union Radio and Television.^[1] At this stage he began focusing on literary studies and attended courses for advanced screenwriting and directing in Moscow from 1960 until 1964. Since after that time he became known as a Russophone Azerbaijani writer. Some of his plays were later acted out in theatres throughout the Soviet Union.^[2] He also wrote screenplays for 12 feature-length movies and 11 documentary films.

Magsud Ibrahimbeyov entered politics in 1985. He was elected to the National Assembly of Azerbaijan twice: in 2000 and in 2004. Even though during the elections he ran as an independent candidate, he was known for his extreme loyalty to the ruling New Azerbaijan Party.^[3] When in 2005 an independent Azerbaijani journalist Elmar Huseynov (famous for his criticism of Azerbaijani authorities) was murdered, Ibrahimbeyov refused to stand in his memory during a minute of silence in the Azerbaijani parliament, which provoked severe criticism and hostility towards him.^{[citation needed]}

Short stories by Ibrahimbeyov:

• The Pistachio Tree
• Goodbye, "Milady"! (1962)
• On a Beautiful Day (1972)