Byzantine co-emperor with his father, Andronicus II, from 1295 who, despite his efforts in fighting the Turks and in resisting the encroachments of the Catalan mercenaries, was unable to reverse the decline of the empire.

In 1303, Byzantium employed as mercenaries the Catalan Company, led by Roger de Flor (Flor, Roger de), which soon began attacking and robbing Byzantines and Turks alike. Hoping to get rid of them, Michael arranged the murder of Roger de Flor in the imperial palace in April 1305. The Catalans then rebelled and ravaged the countryside of Thrace for several years before moving on to Thessaly.

Michael died before his father and, thus, never reigned as sole emperor.