Shatalow studied at the Institute of Fine Arts, Kharkov, Russia, and at the College of Art in Kiev. He has won various prizes for his paintings, including several gold medals from the Allied Artists of America; a Henry Ward Ranger Purchase Fund Award from the National Academy in 1966; several awards from the National Arts Club; an Audubon Artists Medal of Honor from the Audubon Artists Annual, New York in 1973; and first prize in the Festival of Art, Pennsylvania in 1975.
Shatalow's paintings belong to the permanent collections of the Institute of Fine Art, Kharkov, Russia; the College of Art, Kiev, Russia; Windsor Hall Galleries and Woodmere Art Gallery, both in Philadelphia, Pennsylvania. He is a member of a number of artists' organizations, including the American Watercolor Society, Allied Artists of America, Artists Equity, Audubon Artists, and the National Society of Painters in Casein and Acrylic. He resides in Philadelphia, Pennsylvania.
