Bhanu was born in Andhra pradesh, on January 15, 1967. She is Shantipriya's sister. Photographer Adarsh Kaushal is her husband. Adarsh is Bharatanatyam artist Sumathikoushal's son. They have a daughter and are settled in Chennai.
Bhanu is one of the leading female actor's of the Telugu film industry. She made her debut in the Telugu movie Sitara(1983). She has done around 111 movies and is also known as Sridevi of the South Indian film industry.
She is a classically trained dancer and most of her movies are based on dance, like: Vamsy's "Sitara" and veteran K.Vishwanath's "Swarnakamalam" in Telugu and Sathyan Anthikkad's Kochu Kochu Santhoshangal in Malayalam. Bhanu Priya also participated in Mani Ratnam's stage shows like Netru, Indru, Naalai.
The actress has acted in 14 Hindi movies like Dosti Dushmani (1986), Insaf Ki Pukar (1987), Mar Mitenge (1988), Bhabhi (1991) and many more.