Steven Victor Tallarico was born, March 26, 1948 in Yonkers, New York, the son of Susan, a secretary, and Victor A. Tallarico, a classical musician and pianist. Tyler has stated that he grew up "under his mother's piano", and that from what his father played, he got "that emotional thing" that he has with music. When he was sixteen, he formed his first band, called The Strangeurs, later changed to Chain Reaction, where he was the drummer, and later the lead singer. Tyler had also been part of a few local bands, like William Proud and The Left Banke. He was expelled from Roosevelt High School due to his drug use. He graduated from the Leonard Quintano for Young Professionals School in 1967. He attended Woodstock with Joe Perry and Joey Kramer, his future Aerosmith bandmates.

