Puenzo was born in Buenos Aires in 1946. He began a successful career in 1965 producing television advertising spots in Argentina. He founded Luis Puenzo Cinema, a production company, with Sergio Tamburri (film editor and trombone player of the famous Porte?a Jazz Band); the firm's name was changed to Cinemanía S.A. in 1974. During Argentina's Dirty War in the mid 1970s and early 1980s many filmmakers became victims of repression and some went into exile; some disappeared. During this difficult time, Puenzo decided to work in advertising. In the United States he is known for his film Old Gringo (1989), starring Gregory Peck, Jane Fonda and Jimmy Smits. His The Official Story (1985) won an Academy Award for Best Foreign Film and many other accolades.