As good as nothing is known about Ankhaf's family relationships. It is generally accepted that he may have been a son of king Snofru, the founder of the 4th Dynasty, but there are some who suggest that he was a son of Snofru's predecessor, Huni. The name of his mother is not known.
He appears to have been married to Hetepheres, whose name may perhaps suggest a relationship with Hetepheres I, the mother of Kheops. No children seem to be associated with Ankhaf.
Ankhaf was a vizier during the reign of Khefren and 'overseer of all the King's works'. The latter would have made him responsible for the building of the pyramid of Khefren, if not as an architect, then at least as the chief administrator.
Having spanned at least a part of the reign of Snofru, as well as the combined reigns of Kheops and Djedefre, Ankhaf died somewhere during the reign of Khefren.
He was buried in one of the largest mastabas in Giza, where a remarkable portrait bust of his was found. This bust, notable for its individualist approach, portrays Ankhaf as a middle aged man with an expression of vigour and control, two capacities he would have needed in his political career. This exceptional portrait bust is now on display in the Boston Museum of Fine Arts.