Margaret was one of seven children born to Amadeus VIII, Count of Savoy and his wife Mary of Burgundy.

A few of her siblings included Louis, Duke of Savoy and Mary, Duchess of Milan.

Her paternal grandparents were Amadeus VII, Count of Savoy and Bonne of Berry.

Her maternal grandparents were Philip the Bold, Duke of Burgundy and Margaret III, Countess of Flanders.

Margaret married firstly Louis, Duke of Anjou, the titular King of Naples.