Holguín was born on 28 May 1910 in Quito, Ecuador. He studied at National University of Columbia. Holguín was married Genoveva Montoya Williamson on 18 July 1934 in Bogotá. Together had five children: Francisco, María Lourdes, Jorge, Miguel, and Jaime. Holguín died on 19 October 1981 in Bogotá, Colombia, aged 71.