Giovanni Cavalcanti was born in Florence, in a patrician family. He was a member of the Platonic Academy of Florence that met in the Villa Medici at Careggi under the guidance of Marsilio Ficino. Ficino and Cavalcanti were particular friends: Giovanni Cavalcanti lived for many years with Ficino at his villa, and Marsilio dedicated his essay De amore ("About Love" 1484) to Cavalcanti, who had urged him to compose it.

Ficino introduced the concept of "Platonic love" (the Platonic Love was a disguise for same-sex love) and addressed many letters to the young and very handsome Giovanni Cavalcanti - "Giovanni amico mio perfettisimo" ("Giovanni my most perfect friend").

Several Italian humanists of the fifteen, and sixteen century are known to have had gay relationships like Marsilio Ficino did with Giovanni Cavalcanti.