The Met Police said the 52-year-old, shot dead on Wednesday by police gunman after his twisted rampage, was a married father to three children.
He was born in Kent but had recently been living in the Birmingham area. He had also previously worked as an English teacher.
Officers also believe he was using a number of aliases and also had a range of previous criminal convictions – many of them violent.
It has now been revealed his real name, given at brith, was Adrian Russell Ajao – which he later changed.
Masood was also later known as Adrian Elms.
He had never been convicted of a terrorist offence, however.
The man police believe to be responsible for the terrorist attack has now been formally identified as Khalid Masood
Prime Minister Theresa May earlier described him as being on the "periphery" of Islamic Extremism.
Islamic State have claimed responsibility for the attack, although security sources believe Masood was inspired, rather than coordinated, by the death cult.
Masood was not born a Muslim but converted to Islam. He was said to be a "fitness freak" and bodybuilder.
READ MORE: Who is Khalid Masood?
He killed PC Keith Palmer, 48, on hs rampage towards Parliament on Wednesday afternoon before being shot dead.
On Westminster Bridge he drove at tourists in a 4×4, killing mother-of-two Aysha Frade, Kurt Cochran, from Utah and 75-year-old Londoner Leslie Rhodes.
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Forty other people were injured in the attack, with 29 treated in hospital, where seven remained in a critical condition on Thursday.
The casualties included 12 Britons, three French children, two Romanians, four South Koreans, two Greeks, and one each from Germany, Poland, Ireland, China, Italy and the United States.
Three police officers were also hurt, two of them seriously.
The man believed to be responsible for yesterday's attack has been named
Two "significant" arrests in connection with the attack have been made, it was announced on Friday.
One source described him as "a big bloke, he looked like he was a bodybuilder, wouldn't want to mess with him".
He added Masood was a "very religious, well spoken man. You couldn't go to his home in Birmingham on Friday because he would be at prayer".
A former neighbour in Birmingham said she was shocked by the news.
Iwona Romek said: “I have been so shocked by it all. They were a nice family, very reserved. He was very calm.
"I saw the photos on the TV and knew it was the man who lived here.
London Terror Attack: Latest pictures Fri, March 24, 2017
4 dead and 40 injured in London terror attack
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Conservative MP Tobias Ellwood (centre) helps emergency services attend to a police officer outside the Palace of Westminster, London
“He had a wife, a young Asian woman, and a small child who went to school.
"He was a nice guy. I used to see him outside doing his garden. Never any trouble."
She described police raids last night as "a bit scary".
Ms Romek said: "I just heard a lot of banging and shouting. They were shouting to open the door. It was all a bit scary. There was a helicopter above and men in white suits."
Another former neighbour, this time from his time in Luton, said she was "sickened" by the news.
She said: "I’m proud to work in Luton, in a diverse culture and I’m sorry that I didn’t know more about him that I couldn’t do my public duty."
Four people, including the attacker and a police officer who tried to stop him, died in the attack
Scotland Yard said: “The man police believe to be responsible for the terrorist attack in Westminster yesterday, Wednesday, 22 March, has now been formally identified as Khalid Masood.
“Masood, aged 52 (25.12.1964), was born in Kent and detectives believe he was most recently living in the West Midlands. Masood was also known by a number of aliases.
“Masood was not the subject of any current investigations and there was no prior intelligence about his intent to mount a terrorist attack.
“However, he was known to police and has a range of previous convictions for assaults, including GBH, possession of offensive weapons and public order offences.
“His first conviction was in November 1983 for criminal damage and his last conviction was in December 2003 for possession of a knife.”
Khalid Masood being treated by paramedics following yesterday's attack
Armed police during yesterday's deadly attack in Westminster London terror attack victims Fri, March 24, 2017
ISIS have claimed responsibility for the London attack that killed four people
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Earlier Prime Minister Theresa May told the House of Commons: "It is still believed that this attacker acted alone, and the police have no reason to believe there are imminent further attacks on the public.
"His identity is known to the police and MI5, and when operational considerations allow, he will be publicly identified.
"What I can confirm is that the man was British born and that – some years ago – he was once investigated in relation to concerns about violent extremism. He was a peripheral figure.
"The case is historic – he was not part of the current intelligence picture.
"There was no prior intelligence of his intent – or of the plot. Intensive investigations continue."