Lipstok put his Abitur in 1975 in Haapsalu from. He studied from 1975 to 1980 Financial Economics and Banking at the University of Tartu.
Andres Lipstok began in the Estonian SSR early a financial career. From 1980 to 1983 he was deputy chairman of the finance department of the executive committee of the district Haapsalu and 1983-1986 head of department. From 1986 to 1989 he was chairman of the planning committee of the district Haapsalu and 1989 briefly deputy finance minister of the Estonian Soviet Socialist Republic.
From 1989 to 1994 Lipstok was District Administrator of the Läänemaa. In 1994, he joined the liberal Estonian Reform Party a (Estonian Eesti Reformierakond ). 1994/95 he was in the Cabinet of Prime Minister Andres Tarand finance minister, then in 1995/96 in the government of Prime Minister Tiit Vähi Minister of Economic Affairs of the Republic of Estonia. From 1996 to 2005 he was the Reform Party Member of Parliament in the Estonian Parliament ( Riigikogu ).
As of June 7, 2005 Andres Lipstok was the successor of Vahur force President Eesti Pank. His successor was June 7, 2012 Ardo Hansson.
Andres Lipstok is married and has a daughter and a son.