Basquiat was born in Brooklyn, New York City in 1960. His mother, Matilde, was Puerto Rican and his father, Gerard Jean-Baptiste, is of Haitian origin and a former Haitian Minister of the Interior. Because of his parents' nationalities, Basquiat was fluent in French, Spanish, and English and often read Symbolist poetry, mythology, history and medical texts, particularly Gray's Anatomy in those languages.

At an early age, Basquiat displayed an aptitude for art and was encouraged by his mother to draw, paint, and to participate in other art-related activities. In 1977, when he was 17, Basquiat and his friend Al Diaz started spray-painting graffiti art on slum buildings in lower Manhattan, adding the infamous signature of "SAMO" or "SAMO shit" (i.e., "same ol' shit").

In 1978, Basquiat dropped out of high school and left home, a year before graduating. He moved into the city and lived with friends, surviving by selling T-shirts and postcards on the street, and working in the Unique Clothing Warehouse on Broadway. By 1979, however, Basquiat gained a certain celebrity status amidst the thriving art scene of Manhattan's East Village.

Basquiat first started to gain recognition as an artist in June 1980, when he participated in The Times Square Show, a multi-artist exhibition, sponsored by Collaborative Projects Incorporated (Colab). In 1981, poet, art critic and cultural provocateur Rene Ricard published "The Radiant Child" in Artforum magazine, helping to launch Basquiat's career to an international stage. During the next few years, he continued exhibiting his works around New York alongside artists such as Keith Haring, Barbara Kruger, as well as internationally, promoted by such gallery owners and patrons as Annina Nosei, Vrej Baghoomian, Larry Gagosian, Mary Boone and Bruno Bischofberger.

Jean-Michel Basquiat died of a drugs overdose. In 1996 his story was made into a movie under the title Basquiat, with Jeffrey Wright as Basquiat and David Bowie as Andy Warhol.