Fignon was born in Montmartre, Paris. His family moved to Tournan-en-Brie in 1963, where he lived until he left for Paris at age 23.
His first sport was football and he got as far as playing for his département or area. Friends encouraged him into cycling and he rode his first official race in 1976, which he won. Fignon's parents did not want him to race, and he raced without them knowing. He won four more races in his first year, but only one in his second year. In this third year, he won 18 out of 36 races. Fignon's parents allowed him to race, but still thought that he should study. Fignon entered the University of Villetaneuse, studying Structural and Materials Science. Fignon was not interested in his studies, and was an indifferent student. His chief desire was to pursue cycling.[N 1] He told his parents that he was leaving the university and would join the army at the end of the year to do his military service. He was posted at the Bataillon de Joinville, known for its sporting reputation. After this, Fignon was sure he wanted to pursue a professional career.
In 1981, Fignon rode the Tour of Corsica which allowed amateur cyclists to ride along with professional riders. Fignon rode an early stage attempting to hold the wheel of Bernard Hinault, the top professional cyclist, and succeeded for much of the race. Cyrille Guimard observed the young cyclist a few days later at the national 100 km team time trial.Fignon did win on tenth of April 1981 the second stage during Tour du Vaucluse. In May 1981 he offered him a place on his Renault–Elf–Gitane professional team from the following year. Fignon joined the team in 1982, along with longtime friend and fellow junior rider Pascal Jules. Fignon was 21 years of age.

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