He was the son of Margrave Frederick II and his first wife Agnes of Weinsberg (d. 3 May 1320).

In 1344, he delivered Yburg Castle to Margrave Rudolf IV (d. 1348).

In the same year, he purchased the village of Mörsch from Herrenalb Abbey.

Rudolph IV had sold the village to the abbey, with an option to buy it back.

As Frederick IV had died before him, Eberstein fell to his first cousin once removed Rudolf VI of the main Baden-Baden line.