On 21 February 1941, he married Lekha Divyeshwari Devi, afterwards known as Vijaya Raje Scindia, who was descended from the powerful Rana dynasty of Nepal.

They were the parents of five children, four daughters and a son, including: Jiwajirao ruled Gwalior state as an absolute monarch and a British vassal until shortly after India's independence on 15 August 1947.

In 1962, his widow, Rajmata Vijayraje Scindia, was elected to the Lok Sabha, beginning the family's career in electoral politics.

Madhavrao's son, Jyotiraditya Scindia, was also a member of the Congress Party, was elected in 2002 to the seat formerly held by his father.

On 10-March-2020 Jyotiraditya Scindia quit Indian National Congress and was elected to the Rajya Sabha in June 2020 as BJP member.

Jivajirao was also known with his full name: Lieutenant-General His Highness Ali Jah, Umdat ul-Umara, Hisam us-Sultanat, Mukhtar ul-Mulk, Azim ul-Iqtidar, Rafi-us-Shan Wala Shikoh, Muhtasham-i-Dauran, Maharajadhiraj Maharaja Shrimant Jivaji Rao Scindia Bahadur, Shrinath, Mansur-i-Zaman, Fidvi-i-Hazrat-i-Malika-i-Mua'zzama-i-Rafi-ud-Darja-i-Inglistan, Maharaja Scindia of Gwalior, GCSI, GCIE.