Olga von Luckwald was born in Cologne on October 5, 1991. She came to acting at the age of 12 through her godmother, an actress who ran the Cologne children's and youth acting school Juniorhouse. At 16, she was added to the roster of a children's and youth agency, which led to her first television roles. She made her debut in 2008 alongside Jürgen Tarrach and Hape Kerkeling in the comedy "Ein Mann, ein Fjord!" in a leading role as the daughter of Tarrach's main character. Again as the daughter of the main character, she appeared in front of the camera in 2008 for the romantic comedy "Das Glück kommt unverhofft" (broadcast in 2010). Also for television she played two quite similar leading roles: In "Vater aus heiterem Himmel" (2010), she was an anarchic 15-year-old who turns the life of a pedantic prosecutor (Fritz Wepper) upside down in search of her father; in "Dann kam Lucy" (2011), she searched for her father as a cheeky teenager together with her godmother (Julia Jäger). In addition, she took on numerous guest roles in TV series.   

Despite such successes, Olga von Luckwald did not pursue a professional acting career at first to try out other things. She completed various internships, including one in a carpentry shop. "I liked it so much that I considered making it my profession. But the more distance I had from acting, the more I missed it." She applied to the Bavarian Theater Academy August Everding in Munich in 2012, where she studied acting from 2013 to 2017.

In parallel, she appeared in front of the camera in numerous productions. On television, she took on a regular role in the series "Die Chefin" from 2012, as the daughter of the title character; from 2016 she was a regular playing a receptionist in "Die Eifelpraxis". She also appeared in episodes of series such as "Die Lottokönige" (2014) and "Die Rentnercops" (2015). On the big screen, Luckwald had a supporting role in the comedy "Wir sind die Neuen" (2014) and was part of the ensemble of the teenage comedies "Doktorspiele" (2014) and "Abschussfahrt" (2014).   

After graduating in 2017, she was a member of the ensemble of the Kiel Theater until 2019. There she appeared on stage in productions of "Richard III," "The Full Monty" and "Andorra," among others. During these years, she took on virtually no film or television roles besides her regular parts in "Die Chefin" and "Die Eifelpraxis." She began doing so again after her time at the Kiel Theater: in 2020, Luckwald filmed the highly acclaimed TV satire "Faltenfrei," followed by the series "Start the fck up" (2021) and a leading role in the real-time thriller "Ach Du Scheisse!" ("Holy Shit!", 2022). Also in 2022, she appeared in leading roles in the horror thriller "19:04," the crime drama "Die Ohrringe meiner Frau" and Dominik Graf's character study "Mein Falke."