Born in Khabarovsk on February 18, 1969.

Started playing hockey in Golden Puck Hockey Tournaments. His first coach was Valery Dementiev, who managed the neighborhood sports team ”Yunost”.  

Later on played in the youth team of SKA (Khabarovsk), whence he got to the CSKA team at the age of 15. From 1986 to 1989 he had played for the CSKA team in 98 games with 38 goals and 20 passes. Pavel Bure and Sergei Fedorov were Mogilny’s partners in the CSKA team. 

Got the silver medal at the World Junior Championships in 1988. Became the best striker of the Championship (18 points, 9 + 9, in 7 games) and was included into the first string of All-Star Tournament players. The World Champion among Youth in 1989. 

Became the Olympic Champion of 1988 and the World Champion of 1989.
In the 1988 draft, he was selected in the fifth round under the number 89 by the Buffalo Sabres.

Made his NHL debut on October 5, 1989 against the Quebec Nordics and had distinguished himself during his first ice run  at the 20th second of the match.

In the 1992/93 season, Mogilny had scored 76 goals and shared the first place in the NHL with Teemu Selanne as far as the criteria was concerned. 

In 1993 and 1996 he made into the second NHL All-Star team. Played in the NHL All-Star Matches in 1992–94 and 1996. Won the Stanley Cup in 2000. 

On March 14th, 2000, the Vancouver Canucks traded Mogilny to the New Jersey Devils where he won the Stanley Cup.
Ended his career in 2006. He is one of 7 Russians being the members of the Triple Golden Club (the club includes hockey players who won the Olympics, the World Cup and the Stanley Cup).

In 2013, he became the president of the newly created hockey club “Admiral”. Under his leadership, a KHL rookie had reached the playoffs of the Gagarin Cup at the first try.

In 2015, Mogilny returned to Khabarovsk to become the president of the HC “Amur” and still holds the title.