Vaishali Thakkar was born on 25 July 1964 in Mumbai. She is a veteran of Indian television. She has been associated with the Gujarati theatre for a very long time because her father also played an active role in Gujarati theatre. Her brother Hemal is a popular television producer. She started her career with Gujarati plays and then moved on to doing the long-running series, Ek Mahal Ho Sapno Ka, followed by a stint in the TRP-tripping show Baa Bahoo Aur Baby on Star Plus channel where her screen role as Praveena made her a household name. However, her character was killed midway through the series much to the disappointment of the audience, as the producers claimed her character had not "developed" the way they wanted it to. She rose in the lime-light after portraying the role of Damini Ragendra Bharti in the colors series Uttaran.

Thakkar is fluent in English, Hindi, and Gujarati.