Ödön Rácz was born on September 6, 1981, in Budapest and began his study of the contrabass at the state grade school at the age of nine. In 1994 he performed his first public solo concert at the Music Academy in Budapest, after which he continued his study at the Music Conservatory St. Stephan with Gergely Járdanyi, a student of Ludwig Streicher. In 2001, he transferred to the University of Music and Performing Arts in Vienna, where he joined the class of the Philharmonic's long-time principal contrabassist, Alois Posch. Following a successful audition, he joined the contrabass section of the Vienna State Opera Orchestra on September 1, 2004. In 2009 he advanced to the position of principal contrabass.
Already at an early age Ödön Rácz was a prize winner at numerous competitions, such as that of Hungarian Television (1996), the Euro Grand Prix (2000), the International Johann Prunner Competition (2002), and lastly obtained the third prize at the prestigious ARD Competition (2003). After having already released his first recording featuring works of Giovanni Bottesini, Johann Matthias Sperger and Hans Fryba, in 1997 for the Lamati label, he recorded the Double Concerto of Bottesini for Hungaroton in 2003. Ödön Rácz has also appeared as soloist with the Munich Chamber Orchestra, the Bavarian Radio Orchestra and the Hungarian Virtuoso Orchestra.