Paul Jacoulet went to Japan at the age of 4 with his mother to join his father who had been assigned as a language instructor in Tokyo. He attended Japanese schools, and made Japan his permanent home. He started to paint when he was 11 years old under the guidance of Seike Kuroda. In 1931 he turned to woodblock prints. Two years later he opened the Jacoulet Woodblock Print Institute in Akasaka, Tokyo, which was staffed by leading Japanese artists including carvers and printers.

Having been in frail health throughout his life, suffering from chronic bronchial trouble, Jacoulet often traveled to resort areas. Such places included the South Pacific islands of the Marianas, the Carolines and Celebes which he visited almost every year since 1930. He also went to Korea accompanying his mother who was remarried to a Japanese professor in Seoul after the death of his father. Much of his works are based on his observation of the people and customs during these travels. His early works comprise a series called "Rainbow" done in the seven colors of red, orange, yellow, green, blue, indigo and violet. His creations, exotic, vivid and brightly colored, are deep rooted in the Japanese traditional woodblock art.