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Mikhail Davidovich Volkov studied acting and graduated from the Kyiv Theatre Institute. After a stint in the theatre companies of Mykolaiv and Kyiv in Ukraine, he moved to Leningrad (St. Petersburg).
From 1968-2001, Mikhail Volkov was a permanent member of the legendary troupe of Bolshoi Drama Theatre (BDT) in St. Petersburg (Leningrad). Volkov made a remarkable stage career under the directorship of Georgi Tovstonogov at the BDT. There, his stage partners were such stars as Oleg Basilashvili, Tatyana Doronina, Kirill Lavrov, Alisa Freyndlikh, Lyudmila Makarova, Svetlana Kryuchkova, Zinaida Sharko, Natalya Tenyakova, Emma Popova, Elena Popova, Olga Volkova, Valentina Kovel, Innokentiy Smoktunovskiy, Oleg Borisov, Vladislav Strzhelchik, Yefim Kopelyan, Sergey Yurskiy, Evgeniy Lebedev, Ivan Palmu, Pavel Luspekayev, Nikolay Trofimov, Georgiy Shtil, Pavel Pankov, Leonid Nevedomsky, Vsevolod Kuznetsov, Vadim Medvedev, Yuriy Demich, Gennadiy Bogachyov, Andrey Tolubeev, and many other remarkable Russian actors.
Mikhail Volkov was designated the title of Honorable Artist of Russia. He played over 100 roles in film, television, and on stage.