At his father's death, he received parts of the family lands including Rodigo and, together with his brother Pirro, Gazzuolo, Sabbioneta, Pomponesco and Dosolo.
The other two sons, Federico (1484-1527) and Gianfrancesco (who died in his youth), received Bozzolo, Rivarolo and Isola Dovarese, while San Martino was to be shared among all the brothers.
Ludovico was sent by his father at the court of king Charles VIII of France; later, he received by emperor Maximilian I the right to mint coins at Sabbioneta and Bozzolo.
Ludovico Gonzaga lived most of the time in Sabbioneta, which he had received by Pirro, together with his wife Francesca Fieschi and the family.
Their children include: Louis (Rodomonte) (1500-1532), Gianfrancesco "Cagnino" (1502-1529), both military leaders; Pirro (1505-1529), a Roman Catholic cardinal; Giulia (1513-1566), wife of Vespasiano Colonna; Ippolita (died 1571), bride of Galeotto II Pico della Mirandola; and Paola (died 1550), who married Gian Galeazzo Sanvitale.