Gagik Tsarukyan was born on 25th November 1956 in the village of Arinj, Kotayk region.
In 1989 he graduated from the Armenian State Institute of Physical Culture. Achieved great success in the sport; In 1996, became world champion in arm wrestling, and in the 1998 became the champion of Europe.
On 2004 Gagik Tsarukyan led the National Olympic Committee of Armenia. Under his leadership in recent years, Armenian athletes have shown excellent results in the world and European championships. At 2008 in Olympic Games in Beijing, our athletes won six Olympic medals.
In 1990-2000 years Gagik Tsarukyan was engaged in business: becoming one of the most famous people of Armenia in this area. 1990-1992 he was executive director of the "Armenia" company. In the 1995 Gagik Tsarukyan founded "Multi Group" concern, which included today about 40 companies. In this structure, in general, operate more than 20,000 employees.

Since 2002 Gagik Tsarukyan was engaged in politics and in 2003 was elected Deputy of the National Assembly of the Republic of Armenia by majority system. Already in 2004 he founded the ‘Prosperous Armenia’ Party. In 2007, for the first time taking part in the  Parliamentary elections, ‘Prosperous Armenia’ formed the second largest faction in the RA NA.

The ‘Prosperous Armenia Party’ (PAP), led by Gagik Tsarukyan, again formed the second largest Parliamentary Faction in 2012 Parliamentary elections. After 2012 Parliamentary elections, Prosperous Armenia refused to become part of the ruling political coalition.

In 2017, ‘Prosperous Armenia’ Party, being a key political force of Tsarukyan’s Alliance, has taken part in the Parliamentary elections, receiving 430,000 votes of our compatriots, with 31 members in the Parliament.

In 2018, the ‘Prosperous Armenia Party’ (PAP) has participated in Extraordinary Parliamentary elections, forming the ‘Prosperous Armenia Faction’ in RA NA, consisting of 26 MPs. The faction leader is Gagik Tsarukyan.

In 2018-2021, he was the head of the "Prosperous Armenia" faction of the National Assembly.

On September 9, 2021, during the report-election conference of the National Olympic Committee of Armenia, he was re-elected to the position of the President of the National Olympic Committee by unanimous vote of the committee members.

Gagik Tsarukyan known to the society also with his large-scale charitable programs. From 2003 “Gagik Tsarukyan” charitable foundation is working. During these years, the strategic directions of the foundation are:

• The construction of churches
• Help to educational institutions and the support of youth initiatives
• Support for socially vulnerable segments of the population
• Implementation of programs for community development
• Tribute honors to the famous people in science, culture, arts and sports
• Multilateral support to areas of physical culture and sports

Gagik Tsarukyan is married and has 6 children.