Raica, the youngest of three children. She has two brothers: Givago (an economist) and Pablo (a lawyer). She graduated from the Sao Vicente de Paula school in Niteroi.
Before becoming a model she practiced bodyboarding. She dreamed of becoming a model since she was ten years old. Raica was discovered by the same agent who discovered supermodel Gisele Bundchen Sergio Mattos.
In 1999, Raica entered the Elite Model Look contest in Brazil. At the age of 15 she beat 30,000 girls for the top prize and was sent to Nice, France, for the final international competition, where she placed second. Soon thereafter, she moved to New York with her mother Conceição de Oliveira to try to build her career.
Oliveira was christened "The Sensation" at the fall fashion shows in Paris and Milan. She was one of the most talked about models of the season alongside older fellow Elite stars Adriana Lima, Maggie Rizer, Oluchi and Karen Elson, and she continued so the seasons later on.Her first job was a Christian Dior campaign which she shot with photographer Nick Knight that appeared in Vogue, Vanity Fair, Cosmopolitan, Glamour, Mademoiselle, and other fashion magazines. In 2001 Raica Oliveira was ranked by the magazine Istoe Gente to be on of the best paid Brazilian supermodels, earning US$300,000 for working for famous fashion brands and walking more than 76 fashion shows in only two seasons.She is also featured in a Dolce & Gabbana parfums campaign in 2003. Raica was photoshooted for a Yves Saint Laurent and a La Perla advertisement in 2004.
Raica posed half-nude for the Pirelli Calendar in 2005 .
In 2006 Oliveira was unveiled as a spokes model for the cosmetics company Lancome and fashion laicence Punto Blanco. Oliveira replaced top model Naomi Campbell at Selmark Underwear Collection 2006 fashion show. She worked for Victoria's Secret only once. Oliveira has joined the ranks of supermodels charging over €20,000 for a fashion show to step out for TNG fashion show in Rio. In February 2007 she appeared in Sports Illustrated. In March 2007 Oliveira joined IMG Paris and she also appeared in Ann Taylor advertisements. In September 2007 she appeared in Bandolino ads which was featured in Vogue and InStyle. She is the new face of Avon Oliveira is also a represantative for David Morris London jewelry.
She is featured in the Sports Illustrated 2007 Calendar and appeared at the Sports Illustrated 2007 Sportsman Of The Year Awards on 4 December 2007.
In February 2008 she appeared in a GQ editorial for United Kingdom. Raica landed a contract with the fashion brand XOXO for the year 2008. The new XOXO campaign features both Raica Oliveira's face and name in their brand, revealing Raica as one of their spokesmodels, which also includes Adriana Lima and Laetitia Casta.She is currently with IMG Models Paris, Way Models Brazil, Why Not Models Milan, Elite Models , Munchen Models, and more; her mother agency remains Elite.
São Paulo Fashion Week released an exclusive calendar with 25 most famous Brazilian top models including Raica Oliveira photographed by Bob Wolfenson with art direction by Giovanni Bianco. The calendar was accompanied by a movie containing interviews with the top models, which was broadcast at GNT in Brazil and then hit the shelves as a DVD .