Victor was born at Rauden Castle, Kingdom of Prussia, eldest son of Victor I, Duke of Ratibor (1818–1893), (son of Franz Joseph, Prince of Hohenlohe-Schillingsfürst and Princess Constanze of Hohenlohe-Langenburg) and his wife, Princess Amelie of Fürstenberg (1821–1899), (daughter of Karl Egon II, Prince of Fürstenberg and Princess Amalie of Baden).

After making his Doctorate in Law he entered the Potsdamer Life Guards Hussar Regiment in which he fought during the Franco-Prussian War.

From 1897 to 1921 he was Chairman of the Silesia Province respectively of the Upper Silesian provincial parliament.

As a member of the Free Conservative Party, he ran in 1885 and 1888 for the Prussian House of Representatives.

Victor married 19 June 1877 at Vienna to Countess Marie Breuner-Enckevoirt (1856–1929), daughter of Count August Johann Breuner-Enckevoirt, and his wife, Countess Agota Széchényi de Sárvár-Felsövidék.