Born in Heldrungen, Saxony, he was the 11th child (of 16) of Ernest II, Count of Mansfeld-Vorderort.
[1] As a young man, Peter Ernst came to the Spanish Netherlands with Charles V. He participated in the expedition against Tunis in 1535 and became governor of Luxembourg in 1545.
In the Eighty Years' War, he took part in combat under John of Austria, the illegitimate half-brother of King Philip II of Spain and Alexander Farnese, cousin on his mother's side.
When Farnese invaded France in 1590, Mansfeld was appointed Governor ad interim of the Spanish Netherlands.
When Farnese died in 1592, Von Mansfeld effectively became governor until Archduke Ernest of Austria took over in 1594.