He graduated cum laude in 1975 from Tartu State University (now, University of Tartu), Faculty of Economics in econometrics. In 1980, he defended his doctoral dissertation "Problems of using mathematical-statistical methods in the analysis of companies' economic activities" at Moscow State University.[2]
On 23 January 2018, Reiljan died, aged 66, after an accidental fall from six meters from a spiral staircase, breaking four cervical vertebrae. He was interred at Vana-Jaani cemetery (part of Raadi cemetery) in Tartu.[3] His younger brother is politician Villu Reiljan.[3]