Khalid Iqbal did his bachelor’s degree from Forman Christian College in 1949. In 1952, he did a diploma in French from the Oriental College, Lahore and then joined Aitchison College as an art teacher. 

The same year he left for England to study fine arts at the Slade School of Fine Art, University College London. In 1956, he joined the Fine Arts Department of Punjab University as a lecturer.

The Pakistani government conferred the Pride of Performance award on him in 1980.