Since receiving his engineering degree from the University of California at Berkeley in 1941, Petro Vlahos has served the motion picture industry as a design engineer, field engineer, systems engineer and as the chief scientist for the Association of Motion Picture and Television Producers' Research Center. He holds over 35 U. S. and foreign patents, most notable of which concern the Color Difference Traveling Matte System and the Sodium Traveling Matte System.

Vlahos received a Scientific or Technical award in 1960 "for a camera flicker indicating device." He won an Oscar in 1964 "for the conception and perfection of techniques for Color Traveling Matte Composite Cinematography" and another in 1994 "for the conception and development of the Ultimatte Electronic Blue Screen Compositing Process for motion pictures." He was presented a Medal of Commendation in 1992.
In addition to his Academy Award, Vlahos has been recognized by the Society of Motion Picture and Television Engineers (SMPTE) with a Life Fellowship and the Herbert T. Kalmus Gold Medal Award (1987). Vlahos was the recipient of an Emmy Award in 1978 for his electronic compositing system used throughout the television industry.