He came from an ancient Cornish family as the son of Sir Francis Godolphin (1605–1667) and nephew of the poet Sidney Godolphin. At the Restoration he was introduced into the royal household by King Charles II of England, whose favourite he had become, and he also entered the House of Commons as member for Helston, in Cornwall. Although he spoke few words before the House, they were so to the point that he "gradually acquired a reputation as its chief if not its only financial authority". In 1668, he was a successful intermediary between the King and his sister Henrietta Anne (wife of the Duke of Orléans) in order to secure an agreement with King Louis XIV of France to reject England's Dutch allies in return for French money. In 1669, he was awarded a 31-year lease on all tin mines in Rialton and Retraigh in Cornwall. In 1670, Godolphin was appointed Groom of the Bedchamber along with a pension of £500 per annum. He held this post until 1678. The King said that he valued Godolphin because he was "never in the way and never out of the way".