Anya-Josephine Marie Taylor-Joy was born in Miami, Florida, to Dennis Alan Taylor, a former banker, and Jennifer Marina Joy, a psychologist. Her birth in Miami granted her American citizenship due to the country's jus soli nationality law.

Taylor-Joy spent her early childhood in Buenos Aires, Argentina, where she attended Northlands School until the age of six.

At the age of six, Taylor-Joy moved to London with her family and attended Hill House International Junior School and Queen's Gate School. She struggled socially and initially refused to learn English, hoping to return to Argentina.

Taylor-Joy trained in ballet until she was 15 years old, which was an early passion before she turned to acting.