Miroslav Kraljević was born on 14 December 1885 in Gospić, in the area of Lika. His early childhood up to 7th grade high school (1888 to 1902) was spent in Zagreb, though he completed high school in Gospić (1902–1904). He loved poetry and music, and he was often seen drawing. In 1904, the young Kraljević left for Vienna. There, in addition to studying law, he took painting lessons privately with George Fischhof. After two years he gave up the study of law and devoted himself to painting.

In the autumn of 1906 Kraljević moved to Munich, where he spent two terms at the private school of Moritz Heymann, known for training excellent printermakers. After seven months in Munich, he enrolled in the prestigious Academy of Fine Arts and became a student of Hugo von Habermann. During his time there (1907–1910) he studied with fellow Croatian painters Josip Račić, Oskar Herman and Vladimir Becić. At that time Munich was an important center of the European art scene, particularly for Realism, Post-Impressionism, Symbolism and Jugendstil.

Upon completion of his studies in Munich, Kraljević returned to his family, who had by then moved to Požega, and where he spent 1910 and a good part of 1911. During this time, he painted Self-portrait with Dog (Croatian: Autoportret sa psom), and many of his other well-known portraits, landscapes and other works with rustic themes. He also returned to his interest in sculpture, producing works in clay, plaster and bronze.

In 1911, Kraljević received a state grant to study in Paris. He formally enrolled in the Academy La Grande Chaumiére, but instead began to paint intensively at the studios of friends. Here Kraljević's creative talent came to the fore, and despite the advancing effects of tuberculosis, he produced some of his best work, a range of motifs of Parisian life in drawings and oils. After a year, he left Paris and returned home to Požega.

In the autumn of 1912 Kraljević went to Zagreb, where he organized his first solo exhibition, which had a retrospective character. He rented a studio, where he continued to paint until December 1913. Then he went to a sanatorium in Berstovca for treatment. After two months, he left the hospital to return to Zagreb, where he died two days later on 16 April 1913 of tuberculosis. He was only 27 years old. He is buried in the family grave in Požega.