On October 23, 1984 Izabel Goulart was born in Sao Paulo, Brazil. She is of Italian and French descent and has one sister and four brothers. Goulart had a tough time in her early life,as she was teased for her thin build, and was even named as "giraffe". At the age of fourteen, a hairstylist recommended that she should become a model. She shifted to the state's capital Sao Paulo and started modeling.

At the time of her first fashion show appearance; she went through a wardrobe malfunction when her top fell open. The regrettable incident remains her most thwarting moment. She modeled for A-list designers such as Bill Blass, Bottega Veneta, Balenciaga, Valentino, Oscar de la Renta, Jil Sander, Michael Kors, Chanel, Stella McCartney, and Ralph Lauren. She also modeled for Express, H&M, Missoni, Neiman, Marcus and Dsquared.

In year 2005 she first emerged in the Victoria's Secret Fashion Show, the year she was constricted as an Angel. She also walked for Victoria’s Secret in 2008 and 2009 but not as an Angel. She has shot for top photographers such as David Sims, Terry Richardson, Vincent Peters and Greg Kadel.
Goulart’s brother who is a diabetic patient, does charitable work, helping hospitals in her native Brazil to raise funds to provide free insulin for diabetic children in need. She also has taken an active role with the Diabetes Research Institute (DRI) at the University of Miami, a recognized leader in cure-focused research.