Haranath was born on September 2, 1936, in Raparthi, a village near Pithapuram and Gollaprolu, in the East Godavari district. He was the eldest of four siblings, with two younger brothers and a sister. His early education took place in Madras, where he studied until his pre-university level. He then pursued his Bachelor of Arts degree at Kakinada P R College.
Haranath was an extremely active participant in cultural activities, particularly in dramas, and won numerous drama competitions. An unexpected encounter led him into the world of films. While waiting at Vanimahal bus stop in Madras, on his way to pilot training, he was spotted by Mukkamala Krishna Murthy, a renowned film actor, director, and producer. Murthy selected Haranath to play the lead role in the film Rishyasringa.
However, his second film, Maa Inti Mahalakshmi, was the first to be released. Haranath went on to become a very popular Tollywood lead actor in the 1960s, earning the reputation of a romantic icon. He acted in numerous classic films, including Amarasillipi Jakkana, Letha Manasulu, Chitti Chellelu, Aada Janma, Maa Inti Devatha, Bhishma, Pandava Vanavasam, Abhimanyu, and many others.
Haranath was the hero of the first film shot at Saradhi Studios in Hyderabad, Ma Inti Mahalakshmi (1959). He played the role of Lord Sri Rama in the film Seetha Rama Kalyanam, produced by N.T. Rama Rao under the banner National Art Theatres, in which NTR acted as Ravana. He also played the role of Lord Krishna in the film Bhishma (1962) and as Sri Rama in Sri Rama Katha (1969).
Throughout his illustrious career, Haranath acted in approximately 117 Telugu films, 12 Tamil films, one Hindi film, and one Kannada film. He had the privilege of working alongside many renowned actresses, including Jamuna Juluri. His last film was Tandra Paparayudu, starring Krishnamraju, released in 1986.
In addition to his acting career, Haranath also ventured into film production. He produced one movie, Maa Inti Devatha, released in 1981, which starred Krishna, Jamuna, Padma Priya, Mohan Babu, and Satyanarayana, and was directed by Padmanabham.
Haranath was married and had two children, Srinivas Varma Buddharaju, a film producer, and Padmaja, who is married to Telugu film producer G. V. G. Raju.