Lapid was born in Tel Aviv, Israel, to a family of Ashkenazi Jewish descent. He studied philosophy at Tel Aviv University, moving to Paris after his military service in the Israel Defense Forces. He returned to Israel to pursue a degree at the Sam Spiegel Film and Television School in Jerusalem. Lapid was named as a member of the jury of the International Critics' Week section of the 2016 Cannes Film Festival. He became a recipient of the Chevalier des Arts et des Lettres in 2019. His film SYNONYMS won the Golden Bear award at the 69th Berlin International Film Festival in February 2019.