He received his early education at S. Thomas' College, Mount Lavinia. He graduated from Bristol University and later went to England where he obtained his Bachelor of Letters in 1965 and Ph.D. in 1972 from the University of Oxford. After obtaining his Ph.D., he attended UCL Institute of Archaeology where he received a post graduate degree. 

After returning from Europe in 1974, he joined University of Kelaniya in 1975 as a senior lecturer at its archeology department until he retired as a senior professor in 2003. He later became emeritus professor, head of archeology department, and vice chancellor. 

Emeritus Professor Senaka Bandaranayake was one of Sri Lanka’s most respected archaeologists, art historians, and academics. He established Postgraduate Institute of Archaeology in 1987 and served as its director until 1997.

• He served as the Founder of PGIAR when it was established in 1987 under the University of Kelaniya.

• His vision was to create Sri Lanka’s first advanced centre dedicated entirely to Archaeological Research, Postgraduate training, and scientific fieldwork.

Prior to his retirement, he formed archaeological team at University of Kelaniya for graduate students to conduct research. He worked at Sigiriya for eighteen years, during which he built monumental work of Harry Charles Purvis Bell and Senarath Paranavithana.