Born in Dallas, Texas Paul began skating when he was three years old. He trained as a young ice skater in Dallas, Texas, but his family relocated to Colorado to train under the tutelage of Carlo Fassi when he was eleven. Fassi trained Olympic figure champions such as John Curry, Peggy Fleming, and Dorothy Hamil. In the latter part of his amateur skating career, Wylie moved to Boston MA and was coached by Evy and Mary Scotvold. He graduated from Harvard University in 1991 with a degree in government.

Although he had placed second at the US Championships in 1988, 1990, and 1992 Wylie was not considered a favorite heading into the 1992 Olympics. Many in the sport had turned their attention to the younger generation and had told Wylie to move on from competitive skating. Through his determination and perseverance,  Wylie was able to turn in the two performances of his life in Albertville France to capture the Olympic Silver Medal. 

After the Olympics, Paul went on to a very success professional career. He won the 1992 U.S. Open Professional Championships and the 1993 World Professional Figure Skating Championships. He traveled the country from 1992-1998 touring with Stars on Ice. In 1998 he returned to Boston to attend Harvard Business School where he received his MBA in 2000. In 2008 he was indicted into the US Figure Skating Hall of Fame. 

Today, he resides in Lake Placid, New York with his wife Kate and three children. He is the director of sport for Lake Placid’s Olympic Regional Development Authority, helping to improve winter sports programs at all Olympic venues.