Arsen Kanokov was born on February 22, 1957 in the village of Shitkhala, Kabardino-Balkar Republic.

In 1981 he graduated with a degree in Economics from Plekhanov Russian Academy of Economics

From 1981 to 1983 he served in the Soviet Army.

From 1983 to 1987 he worked in the Moskvoretsky Fruit and Vegetable Company (his last position - division head)

In 1987 he registered a "Kodex" trading and purchasing cooperative.

In 1991 he founded a "Syndica" holding Company, which is being specialized in multifunctional trading centers, banking, investment market and the sphere of building in Moscow.

 From 1991-1998 shareholder and a director of ZAO "AKB TsentroCredit".

 From 1998-2003 Deputy to the Permanent Representative of Kabardino-Balkar Republic at the President of RF.

On December 2003 he became Deputy of the State Duma of the fourth convocation under the federal list of the LDPR election association. A year later he joined the "United Russia" party. He was a Deputy coordinator of the Southern Coordination Council of "United Russia", Deputy Head of the State Duma's budget and tax committee, member of the State Duma commission on problems of North Caucasus.

 In Kabardino-Blakaria Arsen Kanolov became known as a patron and sponsor of various programs in the sphere culture. He personally financed the construction of the cathedral mosque in Nalchik, the monument to the victims of the Caucasian war, the reconstruction of the "Intourist" Hotel and "Elbrus" restaurant. Besides, he has been financing local football team "Spartak- Nalchik".

On September 27 2005 the President of the Russian Federation Valdimir Putin submitted the candidature of Arsen Kanokov for presidency to the KBR Parliament. 

On September 28 2005 at the extraordinary sitting of the KBR Parliament all the 105 members approved him as President of Kabardino-Balkar Republic.

He is doctor of Economics, Full member of the Russian Academy of Economic Sciences and Entrepreneurship.

Arsen Kanokov is the author of a number of monographs and articles on hypothec crediting and peculiarities of the State regulated market economy of Russia in transition.