He was the fifth (but fourth surviving) son of Victor I, Prince of Anhalt-Bernburg-Schaumburg-Hoym, but the first-born by his second wife, Countess Hedwig Sophie Henckel von Donnersmarck.
At the time of Karl Louis's death, Frederick was his only surviving brother and reclaimed the government from his nephew Prince Victor II.
Frederick claimed that the primogeniture was never formally installed in Anhalt-Bernburg-Schaumburg-Hoym and, according to the traditional laws of the House of Ascania, he had the right to share the government with Victor II.
His kinsman Duke Alexius of Anhalt-Bernburg inherited Hoym and the other lands obtained from the main branch of Anhalt-Bernburg in 1718 when the line was created; but the Counties of Holzappel and Schaumburg were inherited by his eldest grandniece, Hermine, by marriage Archduchess of Austria, as the senior heir of Elisabeth Charlotte Melander, who by treaty in 1690 gave her counties as a dowry to her youngest daughter, Princess Charlotte of Nassau-Dillenburg, then betrothed to Prince Lebrecht of Anhalt-Zeitz-Hoym.
Hermine's son Archduke Stephen of Austria, Palatine of Hungary eventually inherited the Counties.