Miguel de Azcuénaga was born in Buenos Aires on June 4, 1754. He was the son of Vicente de Azcuénaga Iturbe, a Spanish businessman from Biscay, and María Rosa de Basavilbaso y Urtubia, from Buenos Aires. The Azcuénaga-Basavilbaso had 4 sons and 3 daughters. Miguel de Azcuénaga was sent to Spain at an early age, to complete his elementary studies in Málaga and then attend the University of Seville. He returned to Buenos Aires in 1774, and made a new journey to Spain to oversee the business of his father.