As good as nothing is known about Akhaf's family relationships. It is generally accepted that he may have been a son of king Snofru, the founder of the 4th Dynasty, with a lesser queen, but there are some who suggest that he was a son of Snofru's predecessor, Huni. There is no information regarding any wives or children of his either.
 

The bust of Ankhaf, found in his mastaba at Giza is often seen as a very individual portrait because it deviates from the typical ancient Egyptian canon of depicting people in a highly idealised and almost unpersonal way.

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, noteable for its individualist approach, portrays Ankhaf as a middle aged man with an expression of viguour and control, two capacities he would have needed in his political carreer. This exceptional portrait bust is now one display in the Boston Museum of Fine Arts.