Peter Le Neve was the son of Francis Neve (the Le had been dropped for several generations, when Peter resumed the ancient form of his name), a citizen and draper of London. He was born in London in 1661, and was educated at Merchant Taylors' School. From an early age he displayed a great love of antiquarian pursuits, and in 1707, when the Society of Antiquaries was reconstituted, he was chosen the first President, which office he held until 1724. He was also a Fellow of the Royal Society. On the 17th of January 1690, Le Neve was appointed Rouge-Croix Pursuivant; on April the 5th 1704, Richmond Herald; and on the 25th of the succeeding month Norroy King-at-Arms. He died on the 24th of September 1729, and was buried in the chancel of Great Witchingham Church, Norfolk. Oldys states that Le Neve had 'a vast treasure of Historical Antiquities, consisting of about 2000 printed books and above 1200 MSS., interspersed with many notes of his own.' Oldys also mentions that 'it is said that he had some pique with the Heralds' Office a little before his death, so cut them off with a single book, otherwise he had left them the whole of his library.'[60]

'Honest Tom Martin of Palgrave,' the antiquary, who was Le Neve's executor, and who married his widow, appears to have succeeded to the bulk of Le Neve's collections. They were sold by auction in 1731. The title-page of the sale catalogue reads:—'A Catalogue of the valuable library collected by that truly Laborious Antiquary, Peter Le Neve, Esq.; Norroy King of Arms (lately deceas'd), containing most of the Books relating to the History and Antiquities of Great Britain and Ireland, and many other nations. With more than a thousand Manuscripts of Abstracts of Records, etc., Heraldry, and other Sciences, several of which are very antient, and written on Vellum. Also, a great number of Pedigrees of Noble Families, etc. With many other Curiosities. Which will be Sold by Auction the 22nd Day of February 1730-1 at the Bedford Coffee-house, in the Great Piazza, Covent Garden. Beginning every Evening at Five a-Clock. By John Wilcox, Bookseller in Little Britain.'

The sale appears to have lasted about a fortnight, and was followed by a small supplementary one on March the 19th, of 'Some Curiosities and Manuscripts omitted in the previous Catalogue.' A copy of the sale catalogue, with the prices and the names of some of the purchasers in manuscript, is to be found in the British Museum.

Although Le Neve was an ardent collector and compiled a considerable number of works on heraldry and topography, many of which are preserved in the British Museum, the Bodleian Library, Heralds' College, and the Record Office, he does not appear to have printed anything. His list of Pedigrees of Knights made by King Charles II., King James II., King William III. and Queen Mary, King William alone, and Queen Anne, was edited by Dr. G.W. Marshall for the Harleian Society in 1873.