He was born in Andhra Pradesh, India into a Telugu speaking family. He is the grand child of veteran director Ghantasala Balaramayya. Thaman hails from a family of musicians from Pottepalem, Nellore District. His father Ghantasala Siva Kumar was a Drummer, who worked for seven hundred films, under composer, K. Chakravarthy, his mother Ghantasala Savitri is a playback singer and his aunt is singer P. Vasantha.Thaman is married to Playback singer Sri Vardhini.
At the age of nine, He joined S.P. Balasubramaniam, Ilaiyaraaja's brother, and G. Anand as a rhythm pads player, and discontinued studies when he lost his father at the age of 13. He was compelled to make his hobby into a profession to meet the crisis in his family. He then joined Raj-Koti team, and worked for three years on sixty films and then joined M. M. Keeravani and worked with him for three years completing thirty films. He has also gained experience from composers like Vandemataram Srinivas, Chakri, R. P. Patnaik and Devi Sri Prasad.
He then spent six and a half years under the tutelage of Manisharma and worked on eighty films with him. On the whole, he put in fourteen years of rhythm and keyboard programming with the veterans before branching out on his own.
He began his career as an actor in Tamil Film Boys and as a composer with the Tamil film Sindhanai Sei, while his first Telugu film was Kick in 2009. Aagadu in 2014 was Thaman's 50th film as a music director. In May 2017, Rohit Shetty signed Thaman for his Golmaal 4, a comedy franchise of Bollywood and this would be Thaman's Bollywood debut.
He owns a music band named Thakkali.