|Date of birth||28 November 1978|
|Place of birth||Bukhoro, Uzbek SSR, Soviet Union|
|Height||1.83 m (6 ft 0 in)|
|Sogdiana Jizzakh (Manager)|
|2009||→ FK Samarqand-Dinamo (loan)||12||(4)|
|* Senior club appearances and goals counted for the domestic league only|
Bakayev played spent most of his career with Kazakhstan football clubs. Playing in the Kazakhstan Premier League, he scored a total of 111 goals (as of 12 July 2014) and became the league's top scorer four times . From 2012 to 2014 he played for Irtysh Pavlodar. In 2012, he became best goal scorer of League with 14 goals and was named Footballer of the Year in Kazakhstan. In August 2014 he signed a contract with his former club FK Buxoro. In 26 January 2017, he became head coach of FK Buxoro.
Bakayev was a member of the Uzbekistan national football team. At the 2011 Asian Cup he scored two goals against Jordan in a 2–1 win to put Uzbekistan into the semi-finals. On 29 May 2014 in Tashkent he played his last good-bye match for national team against Oman.
- Irtysh Pavlodar
- AFC Asian Cup 4th place: 2011
- Ulugbek Bakayev at National-Football-Teams.com
- Ulugbek Bakayev at Soccerway
- Ulugbek Bakaev at Footballdatabase