Fred Astaire was born in Omaha, Nebraska, the son of Johanna "Ann" and Frederic "Fritz" Austerlitz. When his father became suddenly unemployed, the family moved to New York City to launch the show business career of the children. Adele(his sister) and Fred had a teasing rivalry but fortunately they quickly acknowledged their individual strengths — his being durability and hers greater overall talent. "Astaire" was a name taken by him and his sister in 1905, when they were taking instruction in dance, speaking, and singing in preparation for developing an act. Family legend attributes it to an uncle surnamed "L'Astaire".

Finally, their first act took shape and was called Juvenile Artists Presenting an Electric Musical Toe-Dancing Novelty. In it, Fred wore a top hat and tails in the first half and a lobster outfit in the second. The goofy act debuted in Keyport, New Jersey in a "tryout theater", and the local paper wrote, "The Astaires are the greatest child act in vaudeville."

After a short time, as a result of their father's salesmanship, Fred and Adelelanded a major contract and they played the famed Orpheum circuit throughout the United States, including Omaha. Soon Adelegrew to at least three inches taller than Fred and the pair began to look incongruous. The family decided to take a two-year break from show business, also to avoid trouble from the Gerry Society and the child labor laws of the time.

Their career resumed with mixed fortunes, though with increasing skill and polish, as they began to incorporate tap dancing into their routines. In this Astaire was inspired by Bill "Bojangles" Robinson and John “Bubbles” Sublett. From vaudeville dancer Aurelio Coccia, they learned the tango, waltz, and other ballroom dances popularized by Vernon and Irene Castle.

Astaire was always on the lookout for new steps he spotted on the circuit and was starting to demonstrate his ceaseless quest for novelty and perfection. Finally, they broke into Broadway with Over The Top (1917), a patriotic revue.

By this time, Astaire's dancing skill was beginning to outshine his sister's, though she still set the tone of their act and her sparkle and humor drew much of the attention, due in part to Fred's careful preparation and strong supporting choreography.

During the 1920s, Fred and Adeleappeared on Broadway and on the London stage in shows such as Lady Be Good (1924) and Funny Face (1927), and later in The Band Wagon (1931), winning popular acclaim with the theater crowd on both sides of the Atlantic. By then, Astaire's tap dancing was recognized as among the best, as Robert Benchley wrote in 1930, "I don't think that I will plunge the nation into war by stating that Fred is the greatest tap-dancer in the world."

After the close of Funny Face, the Astaires went to Hollywood for a screen test (now lost) at Paramount studios but were not considered suitable for films. They split in 1932, when Adelemarried her first husband, Lord Charles Cavendish, a son of the Duke of Devonshire. Fred Astaire went on to achieve success on his own on Broadway and in London with Gay Divorce, while considering offers from Hollywood. The end of the partnership was traumatic for Astaire but stimulated him to expand his range. Free of the brother-sister constraints of the former pairing, and with a new partner Claire Luce, he created a romantic partnered dance to "Night and Day", which had been written for Gay Divorce. This number was credited with the success of the stage play and, when recreated in the film version of the play The Gay Divorcee (1934), ushered in a new era in filmed dance.

Although Astaire was initially very reluctant to become part of another dance team, he was persuaded by the obvious public appeal of the Astaire-Rogers pairing. That partnership, and the choreography of Astaire and Hermes Pan, helped make dancing an important element of the Hollywood film musical. Astaire and Rogers made ten films together, including The Gay Divorcee (1934), Roberta (1935), Top Hat (1935), Follow the Fleet (1936), Swing Time (1936), Shall We Dance (1937), and Carefree (1938). Six out of the nine musicals he created became the biggest moneymakers for RKO; all of the films brought a certain prestige and artistry that all studios coveted at the time. Their partnership elevated them both to stardom. Astaire easily received the benefits of a percentage of the film's profits, something extremely rare in actors' contracts at that time; and complete autonomy over how the dances would be presented, allowing him to revolutionize dance on film.

Astaire is credited with two important innovations in early film musicals. First, he insisted that the (almost stationary) camera film a dance routine in a single shot, if possible, while holding the dancers in full view at all times. Astaire famously quipped: "Either the camera will dance, or I will." Astaire maintained this policy from The Gay Divorcee (1934) onwards, until overruled by Francis Ford Coppola who directed Finian's Rainbow(1968), his first film musical.

Dance commentators consider Rogers to have been Astaire's greatest dance partner, while recognizing that some of his later partners displayed superior technical dance skills.

In 1939, Astaire left RKO to freelance and pursue new film opportunities, with mixed though generally successful outcomes. Throughout this period, Astaire continued to value the input of choreographic collaborators and, unlike the 1930s when he worked almost exclusively with Hermes Pan, he tapped the talents of other choreographers in an effort to continually innovate. His first post-Ginger dance partner was the redoubtable Eleanor Powell - considered the finest female tap-dancer of her generation - in Broadway Melody of 1940 where they performed a celebrated extended dance routine to Cole Porter's Begin the Beguine. Other partners during this period included Paulette Goddard in Second Chorus (1940), in which he dance-conducted the Artie Shaw orchestra.

He made two pictures with Rita Hayworth the first You'll Never Get Rich (1941) catapulted Hayworth to stardom and provided Astaire with his first opportunity to integrate Latin-American dance idioms into his style, taking advantage of Hayworth's professional Latin dance pedigree. His second film with Hayworth, You Were Never Lovelier (1942) was equally successful.

After announcing his retirement in 1946, Astaire concentrated on his horse-racing interests and went on to found the Fred Astaire Dance Studios in 1947 — which he subsequently sold in 1966.

However, he soon returned to the big screen to replace the injured Gene Kellyin Easter Parade opposite Judy Garland and Ann Miller, and for a final reunion with Rogers in The Barkleys of Broadway (1949). He then went on to make more musicals throughout the 1950s: Let's Dance (1950) with Betty Hutton, Royal Wedding (1951) with Jane Powell, Three Little Words (1950) and The Belle of New York (1952) with Vera-Ellen, The Band Wagon (1953) and Silk Stockings (1957) with Cyd Charisse, Daddy Long Legs (1955) with Leslie Caron, and Funny Face (1957) with Audrey Hepburn His legacy at this point was thirty musical films in twenty-five years. Afterwards, Astaire announced that he was retiring from dancing in film to concentrate on dramatic acting, scoring rave reviews for the nuclear war drama On the Beach (1959).

Astaire was a virtuoso dancer, able to convey light-hearted or deep emotion when called for. His technical control and sense of rhythm were astonishing. Astaire's execution of a dance routine was prized for its elegance, grace, originality and precision. He drew from a variety of influences, including tap and other African-American rhythms, classical dance and the elevated style of Vernon and Irene Castle, to create a uniquely recognizable dance style which greatly influenced the American Smooth style of ballroom dance, and set standards against which subsequent film dance musicals would be judged.

Astaire died from pneumonia on June 22, 1987, at the age of 88. He was interred in the Oakwood Memorial Park Cemetery in Chatsworth, California. One last request of his was to thank his fans for their years of support.