Hans Lundgren was born on 3 November 1957 in Spanga, the son of Sigrid Birgitta (nee Tjerneld), a language teacher, and Karl Johan Hugo Lundgren, an engineer and economist for the Swedish government. He lived in Spanga until the age of 13, when he moved to his grandparents' home in Nyland, Angermanland. Some sources wrongly state 1959 as his year of birth, but Lundgren himself has confirmed it to be 1957. He has two sisters and an older brother; he was raised in the Lutheran church.

Lundgren resides in Los Angeles, California. He speaks Swedish and English, as well as smaller amounts of French, German, Italian, Japanese, and Spanish, but is not fluent in five languages as has often been reported.  He is an avid football fan. He supported Everton FC when he lived in Europe, but developed more of an interest in international football tournaments (such as the UEFA European Championship and the FIFA World Cup) after moving to Los Angeles.  During the 1980s, Lundgren had relationships with Jamaican singer Grace Jones and American model Paula Barbieri. In 1994, he married Anette Qviberg, a jewellery designer and fashion stylist, in Marbella. The couple decided they liked Marbella so much that they rented accommodation there for years, before eventually buying a family home there. They have two daughters: Ida Sigrid Lundgren and Greta Eveline Lundgren, both born in Stockholm. Lundgren and Qviberg have cited the reason for living away from Hollywood is that they want to give their children as normal a childhood as possible. His father died in 2000.  In early May 2009, Lundgren's Marbella home was reportedly broken into by three masked burglars who tied up and threatened his wife, but fled when they found a family photo and realized that the house was owned by Lundgren. Lundgren later stated he believed the intruders to be Eastern European and had asked contacts in Bulgaria to investigate them, but to no avail. After the incident, Lundgren's elder daughter, Ida, suffered from PTSD. His wife was the "most traumatized", and as of 2011, they are divorced.  Lundgren currently lives in Los Angeles, California. He broke up with his girlfriend, Jenny Sandersson, in 2014 and it was said that they were secretly engaged and married later.

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