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Pio was born 7 April 1622, the son of Ascanio Pio di Savoia and Eleonora Mattei.
At age 17, Pio went to Rome and then travelled throughout Europe until 1641. Thereafter he joined the army of the Duke of Ferrara as a colonel but was captured by the Florentines in Moncessino. He was released at the end of the war and was appointed treasurer-general of the Apostolic Chamber in 1650. Two years later he bought a position (as was the custom) as personal treasurer to Pope Innocent X.[1]
On 2 March 1654 he was elevated to cardinal by Pope Innocent and was appointed Cardinal-deacon of the church of Santa Maria in Domnica. Over the subsequent two decades he was appointed to various churches as Cardinal-deacon and Cardinal-priest including:[2]