His girlfriend said the 31-year-old had financial problems and was suffering from depression.
Bang Khen Police deputy inspector Pol Lt Thanandan Sungnoen said officers summoned to the scene found the actor dead, a rope around his neck attached to the condo balcony railing.
It appeared he had stood on a chair to hang himself.
His girlfriend, who has not been identified, noticed the situation quickly but could do nothing to help him.
Bhumiphat was part of the Kantana stable of contracted actors and appeared in the drama series “Pin Anong”, among other shows