He and his brother Galeazzo were captured at Gradara in 1424 after their father's and their cousin Carlo's defeat at Zagonara by the Visconti.
In 1427 he was made captain general of the Visconti armies, putting him in command of 1,200 cavalry in the battle against Francesco Bussone.
The Visconti force was defeated at Pizzighettone and Carlo was captured again until being freed when the two sides made peace.
In 1428 Carlo married Vittoria Colonna, Pope Martin V's niece, but the couple remained childless.
The resulting treaty brought peace between the Papal States and the two Malatesta brothers, Carlo and Galeazzo.