When his father Tsuneoki and brother Motosuke IKEDA were killed in the Battle of Komaki Nagakute in 1584, he took over as the head of the family, gaining 130,000 koku in rice as the lord of Ogaki-jo Castle in Mino Province and then 130,000 koku as the lord of Gifu-jo Castle.
天正12年（1584年）の小牧・長久手の戦いで、父の恒興と兄の池田元助が討死したため家督を相続し、美濃国大垣城主13万石、ついで岐阜城主13万石を領する。