He is the former husband of actress Ingra Liberato, divorced without issue. He has also been married to Fernanda Lauer, with whom he had two children (Maria Fernanda Matarazzo and Jayme Matarazzo Filho). With actress Daniela Escobar, whom he married in 1995 and divorced in 2003, he had a son named André Matarazzo (born in 1998). On March 10, 2007, Jayme Monjardim married singer Tânia Mara. In September 2010, Mara gave birth to their first child, a daughter, named after Monjardim's famous mother, Maysa.
His works as a TV director include the telenovelas Pantanal, Terra Nostra, O Clone, América, and Viver a Vida. He also directed the film Olga.