Lysimachus was born in circa 360 BC, to a family of Thessalian stock but they were citizens of Pella in Macedonia. He was the second son of Agathocles and his wife; there is some indication in the historical sources that this wife was perhaps named Arsinoe, and that Lysimachus' paternal grandfather may have been called Alcimachus. His father was a nobleman of high rank who was an intimate friend of Philip II of Macedon, who shared in Philip II’s councils and became a favourite in the Argead court. Lysimachus and his brothers grew up with the status of Macedonians; all these brothers enjoyed with Lysimachus prominent positions in Alexander’s circle and, like him, were educated at the Macedonian court in Pella.
The historian Justin relates the story that Lysimachus smuggled poison to a person Alexander had condemned to a slow death and was himself thrown to a lion as punishment, but overcame the beast with his bare hands and became one of Alexander's favorites. Pausanias writes that Lysimachus was one of Alexander's body-guards, whom Alexander once in anger shut up in a chamber with a lion but he killed the lion and after that Alexander treated him with respect, and honored him as much as the noblest Macedonians.
Some coins issued during Lysimachus's appointment had his image on one side and a lion on the other.

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