Before Nikolai Vasilieff fled to Istanbul, he lived in the Russian Empire, where he received an excellent art education. First, he attended a private art school run by Konstantin Yuon in Moscow and later he studied at Moscow School of Painting, Sculpture and Architecture, where the principal teachers included Leonid Pasternak, Konstantin Korovin and Valentin Serov. This directed Vasilieff toward the use of "mass and colour in art and away from lines and graphics", which were very important in St. Petersburg (Friberg, “Vasilieff at the Benton”, 1977). Moreover, after having served in the Russian army during the war, he had the opportunity to work as Robert Falk’s assistant in the painting class at Vkhutemas.

Nikolai Vasilieff stayed in Istanbul for nearly three years and was able to achieve a lot during this time. He was not only one of the leaders of the Union of Russian Painters in Constantinople, but he is also remembered by many people for his beautiful stage settings and costumes for the famous ballet Scheherazade (in Shanghai backdrops for this ballet were painted by Vera Kuznetzova), which was performed by Zimin in the city on 30 December 1921. To explain the significance of this performance, it is necessary to quote from one of the local Russian newspapers of that time: “It was a truly artistic performance – the maximum that could be given with the most conscientious attitude to the matter. It was a vivid performance, pleasing the eye and caressing the ear. The orchestra played beautifully under the direction of the talented Butnikov, and the wonderful music of Rimsky-Korsakov conquered even this diverse festive crowd. Vasilieff’s excellent scenery, evoking Bakst’s best works in terms of richness and splendour of colours, rich costumes and a general charm of the ambience, rich and colourful, created an atmosphere of captivating oriental fairy-tale that gripped the attention of the audience [...]. In a word, it was an excellent ballet performance that had never been seen in Constantinople. The financial success of the evening was in line with its artistic one. The theatre was full” (Anonymous, “Sheherezada”, 1921). Vasilieff worked in various fields; for example, during his stay in Istanbul he painted two walls of the Maxim restaurant which was a popular place at the time and actively participated in the Union's exhibitions (including First Russian émigré artists in Istanbul exhibition and Exhibition of Russian émigré artists at Taksim Military Barracks). In 1923, the Russian press in Istanbul made an emphasis on the portraits he exhibited at one of the YMCA venues in Pera/Beyoğlu, such as the portraits of Mrs. Fridolina, Mrs. Kuskova and Princess Volkonskaya (“perfectly conceived and skilfully executed”).

He undoubtedly benefitted from his "Istanbul" experience in New York, where at first things did not go as well as he had dreamed. He took on any work in order to survive: There he not only painted the walls of local Russian restaurants and made drawings for The Pilgrim’s Almanac, but also baked bread and painted walls on construction sites. His situation improved in the second half of the 1930s when his patron Hugh Stigs helped arrange his first solo exhibition. Funds from clients allowed him to purchase a studio in New York (somewhere at Union Square where at the time among other organizations the New School for Social Research was located). Vasilieff worked there until 1966. Nevertheless, he decided to spend the last years of his life in his own house in Lanesborough (Massachusetts). Vasilieff’s paintings can be seen today in many famous galleries and museums around the world.