Iké Ugbo was born in London, England, to Nigerian parents and moved to Brampton, Ontario, Canada at the age of four. He returned to England to join the Chelsea Academy at under-10 level, going on to sign his first professional contract with the club in 2015. During his youth years at Chelsea, he was part of the squads that won the UEFA Youth League in both 2014–15 and 2015–16.
Ugbo spent several years developing through loan spells at Barnsley, Milton Keynes Dons, Scunthorpe United, Roda JC, and Cercle Brugge before making a permanent move to Belgian club Genk in August 2021. He marked his competitive debut for Genk with a match-winning goal against Anderlecht. A loan move to Troyes in January 2022 led to a permanent transfer that summer, and during a loan stint at Sheffield Wednesday in early 2024, he scored five goals in five Championship games in February, earning a nomination for Championship Player of the Month.
A direct and physically capable centre-forward, Ugbo is effective in behind-the-defence runs and clinical in front of goal. He permanently joined Sheffield Wednesday in August 2024 for an undisclosed fee, where he is part of the club's attacking options in the EFL Championship.
Originally eligible for England, Canada, and Nigeria, Ugbo made his senior international debut for Canada in November 2021 against Costa Rica and was named in Canada's squad for the 2022 FIFA World Cup in Qatar.