Michael Praed was born in Berkeley, England to Derrick and Kay Prince, but spent his early years in Iran because his father worked as an accountant for a petroleum company. Michael was sent back to England for a public school education, which he did not enjoy. He attended the Guildhall School of Music and Drama in London. As there was already a "Michael Prince" listed in Equity, Michael chose the surname "Praed" from the phone book. He began his career in repertory theatre before moving on to roles in London's West End.