Novinsky was born 3 June 1963 in Staraya Russa (then USSR, now Russia). In 1985, he graduated from the Leningrad Academy of Civil Aviation in engineering management systems.
With partner and fellow Billionaire, Andrei Klyamko Novinsky owns Ukraine's Smart Holding Group. In 2006 they united their Ukrainian metallurgy companies into Smart Holding Group. In 2007 they exchanged them for a stake in Metinvest. Smart Holding Group has a 23.75% stake in iron ore Producer Metinvest. Smart Holding also owns large assets in the oil and gas sector, shipbuilding, development, agriculture and its controlling Unex Bank and BM Bank. Its revenues in 2011 stood at $14.2 billion.
The general public better known him as a Russian oligarch, who made his major fortune in the "dashing 90-e" on privatization of many Ukrainian enterprises. He received Ukrainian passport in 2012 from the hands of the fugitive President Viktor Yanukovich for "the services rendered to Ukraine”. In February 2014 a video appeared Ukrainian in which President Petro Poroshenko called Novinsky "an Orthodox slut. He supports Russian interests in Ukraine in particular the Ukrainian branch of the Russian Orthodox Church - often considered a Russian "Fifth Column" in Ukraine. He is on record as involved in semi-criminal or outright Criminal activities
As an independent Novinsky won the 7 July 2013 by-election in constituency 224 in Sevastopol (located in the southwestern region of the Crimean Peninsula) with 53.41% with a turnout of 23.91%. Before the election Novinsky had stated he would join the Party of Regions if he won. He did so on 5 September 2013. After the (controversial) March 2014 annexation of Crimea by Russia Novinsky was banned from entering the peninsula by the Russian-appointed Crimean authorities.
In the October 2014 Ukrainian parliamentary election Novinsky was again re-elected into parliament; this time after placing 11th on the electoral list of Opposition Bloc.
Since May 2014 Novinsky is under Criminal investigation for "unlawful imprisonment or kidnapping by a conspiracy" and "abuse of power or authority" for allegedly helping President Yanukovych in 2013 to take control of the Ukrainian Orthodox Church (Moscow Patriarchate) (by trying to get loyalists appointed). On 8 December 2016 parliament deprived Novinsky of his parliamentary immunity.