Although he was born in New York City, Pinchot was raised in southern California. After graduating from South Pasadena High School, he found his way back East to attend Yale University by way of a scholarship. He began college studying painting but became interested in acting.

Pinchot has appeared in several feature films, including Risky Business, Beverly Hills Cop (and reprising his popular supporting role in Beverly Hills Cop III), It's My Party, and True Romance. However, he is probably best known for his role in the ABC family sitcom Perfect Strangers (1986-1993) as Balki Bartokomous from the (fictional) island of Mypos. He was nominated for an Emmy Award for Outstanding Lead Actor in a Comedy Series in 1987 for this role.

Pinchot was added to the ABC sitcom Step by Step in 1996, in part as a replacement for Sasha Mitchell, and remained on the show for a season. He played a character reminiscent of the character he played in Beverly Hills Cop. Pinchot then starred in the short-lived 1997 science fiction comedy Meego, which aired on CBS. He guest-starred in a first-season (1996) episode of the NBC sitcom 3rd Rock from the Sun, playing the younger brother of Dr. Mary Albright (Jane Curtin).

In December 2002, Pinchot became a third-degree freemason.

From March 12 to August 15, 2004, Pinchot performed in the revival of Sly Fox on Broadway, opposite Richard Dreyfuss, Eric Stoltz, René Auberjonois, Peter Scolari, and others.

Pinchot joined Jose Canseco, Omarosa Manigault-Stallworth, Janice Dickinson, Carey Hart, Caprice Bourret, and Pepa on the fifth season of the VH1 series The Surreal Life, which premiered July 2005.

Bronson Pinchot has an identical twin brother, Justin Pinchot, who had a guest role on the Perfect Strangers episode "It Had to Be You".