Louis Günther I was the son of Count Albrecht VII of Schwarzburg-Rudolstadt and his wife Juliana of Nassau-Dillenburg.

After Albrecht VII's death, they divided Schwarzburg-Rudolstadt among themselves, and each ruled a part of the county.

In 1598, Louis Günther went to Jena to study at university, and then moved to Strasbourg, where he met with people in the highest circles.

On 5 September 1619, Louis Günther's sister-in-law Anna Sophie of Anhalt (Charles Günther's consort) founded the Virtuous Society, which was intended as a feminine counterpart to the Fruitbearing Society her brother Louis had founded.

Louis Günther I carried out reforms in education and, as usual at the time, made some large donations to the churches.

His widow ruled the county until 1667 as regent for their son Albert Anton, who was later elevated to Prince of Schwarzburg-Rudolstadt.