Soumitra and his family moved to Howrah where he studied in the Howrah Zilla School and Calcutta during his early years. Soumitra graduated from the City College, Kolkata with honours in Bengali literature, as a graduating student of the University of Calcutta. He has lived for a number of years in Calcutta in Satyajit Ray's old apartment 3-lake temple road. He studied for his M.A. in Bengali from the University of Calcutta. While still a student, he learnt acting under noted actor-director of Bengali theatre Ahindra Choudhury. However a turning point came when in the final year of college he saw a play by Sisir Bhaduri, theatre Director and the doyen of Bengali theatre. The play not only set a standard for acting for him, but also help makeup his mind to become an actor. He managed to meet Bhaduri, through his friend's mother, Actress Shefalika Putul. Though, he met Bhaduri, towards the end of his career, when his theatre had closed, nevertheless over the next three years, till Bhaduri's death in 1959, Chatterjee made him a mentor, and learnt the craft of acting through their regular interactions. He even appeared in a small role in one of Bhaduri's productions.