Greg Malone attended Gonzaga High School in St. John's and in 1970 received a BA in English from Memorial University, which awarded him an honorary doctorate in 2000 for his contribution to Canadian art and culture
In 1973 while in Toronto performing at various theatres Malone helped start the Codco comedy troupe. In 1978 Malone and Codco alumnus Tommy Sexton teamed up with the Wonderful Grand Band. In 1986 they reunited with Codco's Andy Jones, Cathy Jones and Mary Walsh to reprise the Codco experience for Canadian theatre, and out of this reunion grew the Codco television series. Independently produced in Halifax, the series debuted on CBC in 1988 and ran for 5 seasons. Malone's spot-on impersonations included Prime Minister Jean Chrétien, Queen Elizabeth II and journalist and radio show host Barbara Frum. In 2002 the Academy of Canadian Cinema and Television gave the troupe the Earle Grey Award for lifetime achievement.