Hailee Puring Steinfeld was born in Tarzana, Los Angeles, California, to Cheri (née Domasin), an interior designer, and Peter Steinfeld, a personal fitness trainer. She has an older brother, Griffin, and a maternal uncle, Jake Steinfeld, a fitness trainer and actor.

Hailee grew up in Thousand Oaks, California. She was raised in a Christian household and has Ashkenazi Jewish ancestry on her mother's side, while her father has German, English, Scottish and Irish ancestry.

At the age of eight, Hailee began taking acting classes. This marked the formal beginning of her pursuit of a career in acting. Her initial acting experiences included roles in various student films.