Fabiola Adam began to study art in 1965. She took courses in painting and drawing at the School of Fine Arts in the Universidad Nacional de Asunción and studied engraving under Livio Abramo in his influential print studio Julián de la Herrería. She has continued to develop as an engraver, taking a number of courses with Livio Abramo and Edith Jiménez between 1983 and 1992. She is active as an educator, teaching at both primary and secondary levels, and in 1996 she took an intensive course in art education at the Escolinha de Arte do Brazil in Rio de Janeiro under Augusto Rodríguez.
In 1987 she was awarded first prize for engraving in the Aldea de Niños SOS del Paraguay and Magister gallery competition, and the following year she won the prize for best engraving in the Bosque de los Artistas competition organised by Herman Guggiari. In 1989 she received an honourable mention in a competition organised by the Moisés Bertoni Foundation. She won further prizes for engraving in 1995 and 1996, and in 2000 she received a prize for excellence in the Quigdao International Print Bienal in China.
Her work has been shown in several solo and collective exhibitions in Europe, Asia and Latin America. She lives and works in Asunción.