Riley Keough was born at Providence Saint John's Health Center in Santa Monica, California. She is the eldest daughter of Lisa Marie Presley and Danny Keough, and the eldest grandchild of Elvis Presley and Priscilla Presley.

When Riley was five, her parents divorced. Her mother later married Michael Jackson briefly from 1994 to 1996, and then actor Nicolas Cage in 2002, though this marriage was short-lived. Riley experienced a diverse upbringing, spending time with both her mother in a privileged environment and her father in more modest living conditions.