Derek Schreck was born to Frank A. Schreck, Jr. and Bonnie Balcom Hayes Schreck. His father, a native of Henderson, NV, is a renowned gaming attorney and political activist, and named partner of Brownstein Hyatt Farber Schreck. His mother, was the former Entertainment Director of the Desert Inn Hotel during it's hey days. She passed away of cancer in February of 1999. He has one sibling, a sister, Sydney, who is a teacher in Las Vegas.

Derek attended the Meadows School from 1989 - 2001, acting throughout and playing clarinet and piano in a jazz quintet. He then transferred to Phillips Exeter Academy in NH, where he graduated cum laude in 2003. Derek attended the University of Washington, earning a degree in Theater and another in History. He graduated phi beta kappa and cum laude in 2008, after training at the Yale School of Drama. He currently lives and works in Los Angeles.