He was born in Lemgo the son of Simon VI, Count of Lippe (1555–1613) and his second wife Countess Elisabeth of Holstein-Schaumburg (1566–1638).
Following the death of his father in 1613, he inherited Lippe-Alverdissen, which he ruled until the creation of Schaumburg-Lippe in 1640.
Schaumburg-Lippe was founded after the Thirty Years' War, when Otto V, Count of Schaumburg died without children.
Following his death the County of Schaumburg went to his mother, Countess Elisabeth of Lippe as the legal heir.
He was married on 13 October 1644 at Stadthagen to Landgravine Sophie of Hesse-Kassel (or Hesse-Cassel) (1615–1670), they had ten children.