	McLeod was born on Borhoneyghurk station along the Moorabool River near Portland in Victoria and was the second son of John Norman McLeod who had represented the seat of Portland in the Victorian Legislative Assembly from 1859 to 1860. McLeod grew up in Portland and finished his schooling at Scotch College in Melbourne. At age 16 he moved to his uncle's property, near Apsley to learn about sheep farming. By 1872 McLeod, in partnership with John Hancock, shipped stock to Nickol Bay, near Roebourne and McLeod set up Chirritta Station. In 1879 McLeod married Charlotte Harriet Bussell