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He was born at Gedern Castle, Hesse, the third and last child of Count Hermann zu Stolberg-Wernigerode (1802–1841, himself a son of Henry of Stolberg-Wernigerode) and his wife Countess Emma zu Erbach-Fürstenau (great-granddaughter of George Albert III, Count of Erbach-Fürstenau). The ancient noble House of Stolberg had been quasi-sovereign rulers of their County of Stolberg-Wernigerode until the German Mediatisation, when they came under the jurisdiction of Prussia in 1815. His elder brother Albert (Albrecht) died, when he was four years old, his father died shortly afterwards from grief over the loss.
Stolberg endeavoured to integrate the annexed province into the Prussian state. Having served in the North German Reichstag from 1867 to 1871, he became a member of the Free Conservative Party and thereafter had a seat in both the German Reichstag and the Prussian House of Lords (as its president from 1872). In March 1876 he became German ambassador in Austria-Hungary, again on Bismarck's proposal.
In 1878, he was appointed German Vice-Chancellor under Chancellor Bismarck. Stolberg was instrumental in the development of the Dual Alliance with Austria which was concluded in Autumn 1879. He also supported Bismarck's Anti-Socialist Laws, however, over time had more and more differences with the Chancellor and finally resigned from office in 1881. Stolberg remained an active politician, serving as Prussian treasurer and Minister of the Royal House. In 1890 he was granted the hereditary title of Prince (Fürst in German) by Emperor Wilhelm II.
On 22 August 1863 at Staniszów Castle, he married his cousin Anna Reuss of Köstritz (1837–1907). They had the following children:
Christian Ernest (1864–1940), Prince of Stolberg-Wernigerode
married in 1891 Countess Marie of Castell-Rüdenhausen (1864-1942), daughter of Wolfgang, 1st Prince of Castell-Rüdenhausen (1830-1913) and Princess Emma of Ysenburg and Büdingen in Büdingen (1841-1926).
Elizabeth (1866–1928)
married in 1885 Count Constantin of Stolberg-Wernigerode (1843-1905), son of Count Wilhelm of Stolberg-Wernigerode (1807-1898) and Countess Elisabeth of Stolberg-Rossla (1817-1896).
married in 1910 Princess Elizabeth of Erbach-Schönberg (1883-1966), daughter of Gustav Ernst, Prince of Erbach-Schönberg (1840-1908) and Princess Marie of Battenberg (1852-1923).
Henry (1871–1874)
Marie (1872–1950)
married in 1902 Count Wilhelm of Solms-Laubach (1861-1936), son of Friedrich of Solms-Laubach (1833-1900)
Knight's Cross of the Royal House Order of Hohenzollern, with Swords and Johanniter Cross on White Band, 1867; Grand Commander's Cross with Swords on Ring, 1873; with Star, 17 June 1881[2]
Konrad Breitenborn: Graf Otto zu Stolberg-Wernigerode. Deutscher Standesherr und Politiker der Bismarckzeit. Ausgewählte Dokumente. Jüttners Buchhandlung, Wernigerode 1993, ISBN3-910157-01-7
Konrad Breitenborn (Hrsg.): Die Lebenserinnerungen des Fürsten Otto zu Stolberg-Wernigerode (1837–1896). Jüttners Buchhandlung, Wernigerode 1996, ISBN3-910157-03-3