Vangelis Margaritis was born in Katerini on December 5, 1982. He began playing basketball with Korinos Pierias (1997–99).
He also played for: Iraklis (1999–2002), Ionikos Nikaias (2002–03), Apolloniada Patras (2003–05), Keravnos Aigiou (2005–07), Peristeri (2007–10), KAOD (2010–11), and Ikaroi Serron (2011–12). From 2012 and for 11 years, he wore the PAOK jersey, with a brief break during the 2021–22 season when he played for Kolossos Rhodes.
From 2016, Margaritis served as captain of PAOK, with whom he played in 423 official games—an all-time record in the club’s history. No other player in PAOK basketball history has appeared in as many official games wearing the black-and-white jersey.
In November 2017, shortly before turning 35, Margaritis made his debut with the Greek Men’s National Basketball Team, for which he played in 17 games—an achievement that serves as an example and source of inspiration for young athletes.
After retiring from professional basketball, he remained with PAOK, initially serving as Technical Director (2024–25) and subsequently as Assistant GM.