Nikolay Milioti was a painter and graphic artist. He came fr om a merchant family and received his early education at the private real school of the Resurrection in Moscow. Milioti studied at the Moscow School of Painting, Sculpture, and Architecture fr om 1894 to 1900. 

After completing his studies in Moscow, Milioti continued his artistic education at art schools in Paris, wh ere he worked with Jean-Paul Laurent. He was actively involved in various artistic associations and participated in numerous exhibitions, including the "Scarlet Rose" exhibition in Saratov in 1904, the "Blue Rose" exhibition in Moscow in 1907, and the exhibitions of the "Union of Russian Artists" and "World of Art" in Moscow and St. Petersburg. Milioti's works were displayed internationally, including exhibitions in Paris, Berlin, and Venice. He was associated with the Moscow symbolist artists and was influenced by artists like Vrubel and Borisov-Musatov. Milioti's paintings were characterized by their plotless and mysterious nature, with a focus on the beauty of pictorial music. 

During the First World War, Milioti served as an ensign in Galicia and commanded a battery. He demonstrated calmness and determination in battle despite being typically nervous and impressionable in everyday life. After being demobilized in June 1917, he left Russia following the October Revolution and settled in Berlin. Eventually, he moved to Paris in 1922, wh ere he faced significant financial difficulties along with other Russian artists in emigration. In 1938, he held a solo exhibition in Paris, and another one took place in Biarritz in 1949. Milioti continued to work successfully, mainly focusing on portraits, despite various ailments. He gained admiration for his flawless portraits.