Constantine was one of the youngest sons of
Romanos I and his wife
Theophanes Continuatus mentions him as the youngest son of the imperial couple, while the 11th-century chronicler
George Kedrenos mentions him as the third of four known sons. His older brothers were
Christopher Lekapenos (co-emperor 921–931) and
Stephen Lekapenos (co-emperor 924-945). It is unclear if
Patriarch of Constantinople in 933–956) was his younger brother or slightly older than he was. His sisters included
Helena, who married
Constantine VII Porphyrogennetos (r. 913–959), and Agatha, who married Romanos Argyros. He probably also had at least two unnamed sisters, known only because of their marriages to the
magistroi Romanos Mosele and Romanos Saronites.
Romanos Lekapenos had risen to power in 919, when he had managed to appoint himself regent over the young Constantine VII and marry his daughter Helena to him. Within a year, he successively rose from
Caesar, and was eventually crowned senior emperor on 17 December 920.
 To consolidate his hold on power, and with a view of supplanting the ruling
Macedonian dynasty with
his own family, he raised his eldest son Christopher to co-emperor in May 921, while Stephen and Constantine were proclaimed co-emperors on 25 December 924.
Following Christopher's early death in 931, and given Constantine VII's de facto sidelining, Stephen and Constantine assumed an increased prominence, although formally they still ranked after their brother-in-law in the college of emperors.
 In 939, Constantine married his first wife Helena, a daughter of the
patrikios Adrian, an
Symeon Magister records the death of Helena on 14 January 940, and on 2 February of the same year, Constantine married his second wife, Theophano Mamas. Constantine had a son, named Romanos, but it is not recorded by which of his two wives.
 This Romanos was
castrated in 945, after the Lekapenoi lost power, to prevent him from claiming the Byzantine throne. He nevertheless pursued a career in the court, eventually reaching the rank of patrikios and the post of
Eparch of Constantinople.
Stephen and Constantine Lekapenos came to the fore in 943, when they opposed a dynastic marriage for their nephew,
Romanos II. Their father wanted to have his eldest surviving grandson married to Euphrosyne, a daughter of his successful general
John Kourkouas. Although such a union would effectively cement the loyalty of the army, it would also strengthen the position of the legitimate
Macedonian line, represented by Romanos II and his father Constantine VII, over the imperial claims of Romanos's own sons.
 Predictably, Stephen and Constantine opposed this decision, and prevailed upon their father, who was by this time ill and old, to dismiss Kourkouas in the autumn of 944.
 Romanos II instead married Bertha, an illegitimate daughter of
Hugh of Arles,
King of Italy, who changed her name to Eudokia after her marriage.
With Romanos I approaching the end of his life, the matter of his succession became urgent. In 943, Romanos drafted a
will which would leave Constantine VII as the senior emperor following his death. This greatly upset his two sons, who feared that their brother-in-law would have them deposed and force them to take monastic vows. Motivated, in the opinion of
Steven Runciman, partially by self-preservation and partially from genuine ambition, they started planning to seize power through a
coup d'état, with Stephen apparently the ringleader and Constantine a rather reluctant partner.
Their fellow conspirators included
Marianos Argyros, the
Manuel Kourtikes, the
strategos Diogenes, Clado, and Philip. Kedrenos, however, considers Peteinos to have served as an agent of Constantine VII among the conspirators. On 20 December 944, the conspirators set their plans in motion. The two brothers smuggled their supporters in the
Great Palace of Constantinople during the midday break in palace activities. They then led their men into the chamber of Romanos I, where they easily captured the "ill old man". They were able to transport him to the nearest harbour and from there to
Prote, one of the
Princes' Islands and a popular place of exile. There, Romanos agreed to take monastic vows and retire from the throne.
Having managed to quietly depose their father, the brothers now had to deal with Constantine VII. Unfortunately for them, rumours soon spread around
Constantinople, to the effect that, following Romanos's deposition, Constantine VII's life was in danger. Before long, crowds gathered before the palace, demanding to see their emperor in person. The contemporary
Liutprand of Cremona notes that the ambassadors and envoys from
Provence present in the capital also supported Constantine VII. Stephen and his brother had to succumb to the inevitable, recognizing their brother-in-law as the senior emperor.
The new triumvirate lasted for about 40 days. The three emperors soon appointed new leaders for the military services.
Bardas Phokas the Elder was appointed as the new
Domestic of the Schools, and
Constantine Gongyles as head of the
Byzantine navy. Stephen and his brother managed to reward their fellow conspirators. Peteinos became
Great Hetaeriarch, Argyros was appointed
Count of the Stable, Kourtikes a patrikios and
droungarios of the Watch.
On 26 January 945, however, at the urging of their sister, the
Augusta Helena, another coup removed the two Lekapenoi from power under the accusation that they attempted to poison Constantine VII, and restored the sole imperial authority to the latter.
Exile and death
Initially, the two brothers were sent to Prote. The Byzantine chroniclers have their father welcoming them by quoting a passage from the
Book of Isaiah, specifically Chapter 1.2:
 "Hear, O heavens, and give ear, O earth; for
Jehovah hath spoken: I have nourished and brought up children, and they have rebelled against me."
 Liutprand of Cremona, however, gives a slightly different account, having Romanos I receive his sons with bitter sarcasm, thanking them for not neglecting him and begging them to excuse the monks for their ignorance on how to properly receive emperors.
Constantine was soon transported to
Tenedos, and then to
Samothrace. He was ultimately killed while attempting to escape the island. The exact date is unknown, but since Theophanes Continuatus claims that the exiled Romanos I saw a
nightmare featuring his son's descent to
Hell at the time of Constantine's death, it can be placed between 946 and Romanos's own death in 948.