Peter was the eldest of five sons of Robert of Courtenay, Lord of Champignelles and his wife Matilda of Mehun.

On 25 August 1248, he sailed with his cousin, King Louis IX of France, from Aigues-Mortes to Egypt to fight the Seventh Crusade, during which he died.

On that day, Count Robert I of Artois led a vanguard of Crusaders in a spontaneous attack on the city.

However, the chronicler Jean de Joinville maintains Peter of Courtenay died on an earlier date.

[4][5] Peter was married to Pétronille (d.1289),[6] a daughter of Gaucher of Joigny and Amicie de Montfort.