He was born in Libreville, Gabon. His parents, from Ogwugwu Village in Enugu Agidi town of Anambra State, changed their name from Okolue to Esomugha. He is the only boy in a family of eight children. He attended secondary school in F. G. C. Kwali Abuja from 1985 to 1991,^[2] then earned a diploma in Banking and Finance and a BSc in Philosophy from the University of Jos, Plateau State.^[3]

Jim Iyke began acting in 2001. As of October 2013, he was one of the highest paid actors in Nollywood,^[4] he has appeared in over 150 films.^{[citation needed]}

He started a movie production company, Untamed Productions in 2007, and also has his own music record label, Untamed Records.^[5] His first album, titled Who Am I?, featured some of Nigeria's top musicians, such as TuFace Idibia and Sound Sultan.^[6][7]

A video of Jim Iyke's purported 'deliverance' from an evil spirit at The Synagogue Church of All Nations, led by Pastor T.B. Joshua, provoked intense debate on social media.^[8] The spirit reportedly confessed that it was behind Iyke's inability to find a wife.^[9]

He is the founder of Jim Iyke Foundation for Children with Special Disabilities. He visited Kenya in December 2012 in support of the Make a Change Campaign, a charity project founded by Christopher Grey and Jamaican dance hall artist Cécile.^[10]

Iyke holds a black belt in taekwondo.^[11]

In April 2019, he announced the birth of his son.^[12]