Zayed is youngest son of actor Sanjay Khan and interior designer Zarine Khan. Zayed’s family tree include older sisters Simone Khan (wife of Ajay Arora), Sussanne Roshan (married to actor Hrithik Roshan), and Farah Khan Ali (wife of DJ Aqeel). Khan is related as cousin brother to yet another Bollywood actor, Fardeen Khan, whose father is the late actor Feroz Khan, who was Khan's father's brother.
Zayed has been educated from Wellham Boy’s School, Dehradoon and Kodaikanal International School, Kodaikanal. His spouse Mallaika Parekh was his childhood friend; both of them were also friends with Eesha Deol. He graduated in business management from University of Washington and Film Making at London. Zayed has a son named Ziddan too.
Zayed had Churra Liya Hai Tumne as his acting debut and had his biggest hit as Main Hu Na. He has also acted in Dus, Tezz, Om Shanti Om and Love, Break Ups and Zindagi.