Nikolay Stoykov graduated from the State Academy of Music in 1971 majoring in Composition under Professor Pancho Vladigerov. He specialised at the Moscow Conservatoire with Professor Yury Holopov, E. Denissov and Dmitri Shostakovich. In 1972 he was appointed lecturer at the Academy of Music and Dance Art in Plovdiv. In 1976 he founded the course Musical Folklore – Instruments and Singing and he is still its doyen.

For the needs of the course he wrote 15 handbooks including folksong arrangements, chamber and symphonic music. Currently he is Professor of Harmony, Composition and Orchestration at the Academy of Music and Dance Art.
He composed symphonic, chamber, choral music. His creativity transforms the diversity of Bulgarian folk music into songness and rhythm. His works were performed in Belgium, the Czech Republic, Germany, the Netherlands, Poland, Russia, the UK, Japan, etc. With the choral songs “Kalugerine” (Hey, Nun) and “Gadulka Lesson” a series of Bulgarian choral ensembles won 30 awards at international competitions for singing, among them the festival in Tallinn (1975), Cork, Ireland (1976), Llangollen, UK (1976), the Bella Bartok Festival in Hungary (1979), the Autumn in Warsaw Festival (1981), the festival in Arezzo, Italy (1982), etc.
He won twice the Plovdiv Prize for music (1972, 1997).
In 1996 he chaired a jury at the International Piano Duo Competition in Tokyo. His works were released on two LPs and a CD.

Works for symphony orchestra:
Paraphrases:

1 The Quick One (1977);
2 Overplaying for two saxophones and orchestra (1998);
3 Capriccioso for flute, violoncello and orchestra (1998);
4 (1999);
5 (2002).

Piano Concerto (1990).

Chamber Music:
Dithyrambs for percussion (1979);
Trio-serenade for clarinet, piano and percussion (1982).

Sonatas for:

violin and piano 1 (1974), 2 (1997); flute and piano (1975-76); two violoncellos (1978-81); clarinet and piano (1983); violoncello solo (1990); harp and piano (1995).

Book of the Performer pieces for solo instruments in two volumes (1972-1990).

For piano:

Preludes – two piano albums (1980-90);
The Old Album for two pianos (1982-87);
Bulgarian Dances – three piano albums for four hands (1990, 92, 93).

Choral music:
Shturche-svirche (Cricket-curlew) – cycle (1969-90);

Divertimento 1 “Ala-bala-nitza” for childrens choir and percussion (1978).