He was born in Mumbles, south Wales. Educated at Ardingly College and then Magdalen College, Oxford he graduated with a degree in English literature in 1981. He joined Private Eye in 1981 and became editor in 1986 upon the departure of Richard Ingrams.
In his role as editor of Private Eye Ian Hislop has the dubious distinction of being the most sued man in British legal history. The most famous libel case he and Private Eye were involved in was when they were sued for libel by corrupt publishing magnate Robert Maxwell. After the case he quipped "I've just given a fat cheque to a fat Czech." Ordered to pay massive damages after being sued for libelling Sonia Sutcliffe, wife of Yorkshire Ripper Peter Sutcliffe, Hislop told reporters waiting outside the High Court "If that was justice then I'm a banana."
After surviving the financial trials of such libel payouts (Sutcliffe's was dropped to just £60,000 on appeal), Private Eye and Hislop's reputations were greatly restored after it was revealed that what they had written about Maxwell was not only true but only a small part of the wider misdemeanours in Maxwell's empire.
Hislop is also a media pundit and a panellist on the popular current affairs and satire program Have I Got News For You.
He has also presented TV and radio shows including one on the history of British education. Recently he has also written and presented factual programmes for Radio 4 about such subjects as tax rebellions, female hymn composers and patron saints of the British Isles.