On 14 January 2015 was awarded "Honorary Diploma of the President of the Republic of Azerbaijan" by order of President Ilham Aliyev. In the same year he was awarded the honorary title of "Knight of Arts and Sciences" of Russian Academy of Natural Sciences.
In 2013 he was awarded the Order of "Glory and honor."
He was awarded the Order of "Fame." In 2009
He was appointed to the post of first vice-president on geology, geophysics and field development of SOCAR by a decree signed by Ilham Aliyev in 2004.
He was awarded the Istiqlal Order in 2000.
He worked as the Vice president on geology, geophysics and field development in 1994-2004.
He worked as the First Vice-President of the "Azerineft" State company, and an advisor to the president of SOCAR in 1992-1994.
He worked as Deputy Director General and Chief Geologist of “Khazardenizneft” Unit, "Khazardanizneftgazsanaye" All-Union, "Caspianoil" Union, "Xəzərdənizneftqaz" in 1970-1992.
He worked as Deputy Chief Geologist of the "Bashdenizneft" Department and then as Head of the Department. he also headed Geological Exploration Department of "Denizneft" Production Unit, and also was Deputy Chief Geologist from 1963 to 1970.
He was appointed Deputy Chief, Chief Geologist of oil fields (the "Gurganneft") at XXII Congress of the CPSU in September 1960 and worked in that position until October 1963.
He headed the plant in 1959-1960.
He worked as chief geologist of "Neft Dashlary" plant of the research and the production in 1958-1959.
He was appointed the mine geologist in oil exploration and development in "Gurganneft" trust (the "Neft Dashlary" OGE Department)in March 1954, and since then he was known as one of the participants and leaders of offshore oil exploration and development.
He graduated from high school in 1947 and entered the Geological Exploration Faculty of Industrial Institute named after Azizbayov (now Azerbaijan State Oil Academy).
Khoshbaxt Yusifzadeh was born on January 14, 1930, in the Pirshagi village of Baku.