Svetoslav Louchnikov was born on 3 February 1922 in Rousse.
He graduated in law from the St. Kliment Ohridski University of Sofia, which he joined as assistant professor in civil law for the period 1947-1949.
Between 1949 and 1982 he occupied different account's and financial expert's positions.
1991 - 1994 - deputy to the 36th National Assembly from the UDF.
In 1991 - 1992 he was minister of Justice and vice premier in the UDF government led by Philip Dimitrov. Between 1992 and 1994 he practised as lawyer.
1994 - 1997 - UDF deputy to the 37th National Assembly.
1997 - deputy to the 38th National Assembly from the UDF.  
President of the Legal Affairs Committee. Author of the Restitution Law that introduced compensatrion notes and that became known as the Louchnikov Act.
Member of the  National Club for Democracy within the UDF and its leader  since January 1993.
2001 - UDF MP in the 39th National Assembly.
He is not a co-founder of the Union of Democratic Forces as is affirmed on some web sites.

Married, with one child.
Languages: Russian and French.

He died on 27 October, 2002.