Olhagaray was born in 1951 as son to a Chilean mother and a French father in Santiago de Chile. From 1968 to 1973 he studied architecture at Universidad Católica de Chile and ballet at the Conservatorio de Santiago from 1972 to 1973. After the military coup in 1974 he came to the GDR. Until 1980 he studied painting with Gerhard Kettner and Hernando Leon at the Academy of Fine Arts in Dresden. Since 1985 he was part of the 100 Ausgewählte Grafiken der DDR exhibitions. From 1988 to 1990 he studied art pedagogics at the Humboldt University in Berlin. In 1990 he designed a 16m long mural painting for the East Side Gallery at the former Berlin Wall. He did further mural paintings and sculptures in the public area and appeared with actions and performances. In 1992 he once again studied Fine Arts at the University of Arts in Berlin and afterwards dedicated himself to work with kids and the youth.
He developed further mural paintings in Santiago, Antofagasta, Cerro Navia and Valparaiso, in Dresden, Potsdam and Berlin.
As world artist he commutes between Chile and Germany.