Mikael Löfström is educated at Lund University, Interiør Arkitekt Skolen in Copenhagen and at Konstfack University of Arts, Crafts and Design in Stockholm, from where he graduated in 1979.
In 1985 Löfström founded his own design studio from where he a.o. created sculptural, painted furniture in the post modernistic style. In 1989 Löfström was the beneficiary of the Rolf Åsard scholarship from Architects Sweden. The scholarship was given to a recently graduated interior architect, and a part of the prize was to design a cabinet that was to be sold to the members of Architects Sweden. Löfström's cabinet is a part of the collection at the Museum of Furniture Studies.
Mikael Löfström has written books on the painting of furniture and interior architecture while also working on exhibition’s designs. He has designed wallpapers for Duro (a.o. Print from 1985) and textiles for IKEA, such as Scandinavian Design from 1998. From 2001 to 2003 Löfström was associated professor at Linköping University and visiting professor at LiU Malmstens from 2005 to 2010.
In 2013 Löfström, together with cabinetmaker and university lecturer Leif Burman, founded the foundation Stiftelsen Lehmanns Verkstad and the project Kulturgatan, with the aim to preserve the furniture heritage in Bodafors, Småland. The foundation works with exhibtions showcasing the area’s history while also making space for the exchange of knowledge and craftmanship.