In 1965 he graduated from Taras Shevchenko State Art School, in 1971 - from Kyiv State Art Institute, (Tetyana Yablonska's studio).
He is a member of the National Artists' Union of Ukraine since 1975.
Volodymyr Budnikov is a Honored Artist of Ukraine, professor of the National Ukrainian Academy of Arts. In 1998 he was awarded with the title "Artist of the Year" and "Zolotyi Peretyn" award at the III International Art Festival in Kyiv. The artist's works are in public and private collections in Austria, Germany, the USA, Japan and Balkan countries.