Born in 1331 as the son of Hatakeyama Ienuki, and known by the common name Saburo, Yoshifuka served the Muromachi shogunate alongside his elder brother Hatakeyama Kunikiyo, operating as a Northern Court commander in the Kanto region. In 1356, as constable (shugo) of Kii Province, he built Wasayama Castle. In 1359, when Southern Court forces under Shijo Takatoshi encamped at Mount Ryumon, Yoshifuka used Wasayama Castle as his base to repel them and put the Southern Court army to flight. In 1361 he followed his brother Kunikiyo when he rose up in Izu, but was defeated and surrendered. Pardoned by the shogunate in 1366, he was appointed constable of Echizen Province, and thereafter held constable posts in Noto, Ecchu, Kawachi, Izumi, and Kii provinces in succession, supporting the shogunate's government as the sixth head of the Hatakeyama clan. He died in 1379 at age 49.

Though temporarily disgraced for following his brother's rebellion, he regained the shogunate's trust and returned to key posts, showing resilience and an ability to rebuild confidence. His tenure as constable of multiple provinces also reflects strong administrative ability.

Wasayama Castle is remembered as the base from which the Southern Court forces were repelled at the Battle of Mount Ryumon, and is said to have been used again during Toyotomi Hideyoshi's 1585 conquest of Kishu. Yoshifuka was among the warriors who laid the foundation for the Hatakeyama clan, which would later produce Kanrei (deputy shogun) of the Muromachi shogunate.