Broccoli was born in Los Angeles, California, the daughter of the famous James Bond producer Albert R. "Cubby" Broccoli and actress Dana Wilson Broccoli (née Natol). She majored in motion picture and television communications at Loyola Marymount University prior to working in the casting and production departments at EON Productions, the production company responsible for the official James Bond series of films dating back to 1962. Currently she co-produces Bond films with her half brother Michael G. Wilson. She is married to producer Frederick Zollo and they own an independent production company called Astoria Productions. She is the youngest of four children raised by Cubby and Dana Broccoli, the half-sister of Michael G. Wilson (mother Dana, born: 1943), and Tina Broccoli (mother Nedra Clark-Broccoli, born: 1958) and Tony Broccoli (adopted by Cubby and Nedra Clark-Broccoli, ca. 1956-57)

She was appointed Officer of the Order of the British Empire (OBE) by the Queen of Britain in the 2008 New Year Honours.

Broccoli started in the Bond franchise at the age of 22 as an assistant director on Octopussy in 1983. Soon after she had worked her way up further to become an associate producer on the film The Living Daylights in 1987. However, her most notable role was being a producer of the Bond films starring Pierce Brosnan and Daniel Craig.

Following her father's death in 1996, Broccoli created the stage musical version of Chitty Chitty Bang Bang based on the 1968 musical film starring Dick Van Dyke and Sally Ann Howes. Broccoli rehired the original songwriters from the film to write the new material for the stage version. The Sherman Brothers wrote six new songs for the show which debuted on April 16, 2002. The show ran at London's largest free house, the London Palladium and was the most financially successful show to have ever played there, breaking numerous other impressive records as well. Chitty Chitty Bang Bang went on to play successfully in both the United States and throughout the United Kingdom.