Makarov was trained in the Russian SFSR. He won two World Junior Championships, and was named the best player during his second victory in 1978. Makarov was also on the gold-winning Soviet national ice hockey team in the World Championships in 1978, 1979, 1981, 1982, 1983, 1986, 1989 and 1990 and in the Canada Cup in 1981. At the Winter Olympics, he won the gold medal in 1984 and 1988 and a silver in 1980 as a member of the USSR team. In the Soviet Union, Makarov played 11 championship seasons with CSKA Moscow (Red Army), winning the Soviet Player of the Year award (also known as Soviet MVP) three times, getting named to the Soviet League All-Star Team ten times, and leading the league in points nine times and goals three times.[2][3] Together with Igor Larionov and Vladimir Krutov, they formed the KLM Line, one of the most talented and feared lines ever to play hockey. He was awarded Order of the Red Banner of Labour (1984).[4]
In 1989, Makarov was allowed by the Soviet Union to join the National Hockey League and the Calgary Flames. He won the Calder Memorial Trophy as rookie of the year at the age of 31 (as a result, the rules were changed and now only players under 26 qualify for the award – the Makarov Rule). At 25.9% his shooting percentage was the highest of all NHL players. Makarov also played for the San Jose Sharks from 1993 to 1995. For the 1995–96 season Makarov was dropped from the Sharks' roster and did not play and became an assistant coach for the Russian national team during the World Cup.[citation needed]
After separating from his first wife Vera (son Artie) in Calgary, he met Mary, who had worked for the San Jose Sharks in the ticket sales. They married and had two children, Nikolai and Katerina.
Makarov is again divorced, and is living in Russia. His ex-wife and children, son Nik and daughter Katerina, still live in California. Makarov still works as a certified player agent who acts as a liaison for young Russians wanting to play in North America.