Schumacher was born in Hürth, North Rhine-Westphalia, and began karting at the age of three at his parents' track in Kerpen. He won the NRW Cup and the Gold Cup in 1991, followed by the German Junior Kart Championship in 1992. Moving into car racing, he finished runner-up in the ADAC Junior Formula Championship before entering the German Formula Three Championship in 1994 with WTS Racing, finishing third. In 1995 he improved to second in the German F3 series and won the Macau Grand Prix outright.
For 1996, his manager Willi Weber secured a seat in the Formula Nippon series with Team Le Mans alongside Naoki Hattori. Schumacher won the championship at his first attempt, becoming the first rookie to claim the title. He and Hattori also competed in the All Japan Grand Touring Car Championship that year, winning four races and finishing as runners-up in the GT500 class.
Schumacher joined Jordan Grand Prix for 1997 alongside Giancarlo Fisichella. He scored his first podium in Argentina with third place and finished the season eleventh in the Drivers' Championship with 13 points. In 1998 he was partnered by 1996 champion Damon Hill; the year included two consecutive podiums in Belgium and Italy, but team orders not to pass Hill in Belgium caused friction between driver and team. After the Italian Grand Prix his move to Williams for 1999 was announced. Michael Schumacher reportedly paid two million pounds to terminate his brother's Jordan contract early. Ralf finished tenth in 1998 with 14 points.
Schumacher joined Williams and finished sixth in the 1999 Drivers' Championship with 35 points. In 2000, partnered by rookie Jenson Button, he finished fifth with 24 points. His breakthrough year came in 2001: he took his maiden victory at the San Marino Grand Prix, leading every lap from third on the grid, then added wins in Canada — where Michael Schumacher finished second, marking the first one-two finish by siblings in F1 history — and Germany. He finished the season fourth with 49 points. He matched that championship position in 2002 with 42 points, his sole win that year coming in Malaysia.
In 2003 Schumacher mounted a serious title challenge, winning back-to-back at the European and French Grands Prix and finishing fifth overall with 58 points, helping Williams to second in the Constructors' Championship. His 2004 campaign was disrupted by a severe accident at the United States Grand Prix, where the deceleration measured 78g, leaving him with a concussion and two minor spinal fractures. He missed six races before returning for the Chinese Grand Prix.
Schumacher joined Toyota on a three-year contract signed in July 2004. He scored a podium in Hungary in 2005 and another in Australia in 2006, which stood as Toyota's only podium of that season. During 2006 he was elected chairman of the Grand Prix Drivers Association. His 2007 campaign was troubled by poor results and public pressure from Toyota management; he announced his departure before the season ended and finished sixteenth in the championship with five points. Subsequent approaches to Toro Rosso, McLaren, and Force India for 2008 drives came to nothing.
Schumacher joined Mücke Motorsport's DTM programme in 2008 and transferred to the HWA Mercedes-Benz team in 2009. His best DTM results came in 2011 when he finished third at the Hockenheimring and second at the Red Bull Ring, ultimately eighth in the championship with 21 points. He retired from active motorsport in March 2013, becoming a shareholder and driver mentor at Mücke Motorsport. In August 2024 he made a one-off return, sharing a Ligier JS P320 LMP3 car with his son David at the Nürburgring in the Prototype Cup Germany; the pair won both races held that weekend.
Schumacher joined Sky Deutschland as an F1 pundit and co-commentator in 2019 and has continued in the role since.