Victor Frederick was born on 20 September 1700 in Bernburg as the second (but eldest and only surviving) son of Karl Frederick, Prince of Anhalt-Bernburg, by his first wife Sophie Albertine, daughter of George Frederick, Count of Solms-Sonnenwalde.
After the death of his father in 1721, Victor Frederick succeeded him in Anhalt-Bernburg. As a Rittmeister and Capitan of the Prussian army, he was made a knight of the Order of the Black Eagle in 1722.
Victor Frederick showed a special interest for mining and metallurgy and often visited the mines in the Harz.
He died on May 18, 1765 in Bernburg, leaving behind 7 children, including Frederick Albert, who succeeded him. Frederick Albert reigned until 1796.
Christine Elisabeth Albertine (b. Bernburg, 14 November 1746 - d. Coswig, 18 May 1823), married on 27 April 1762 to Augustus II, Prince of Schwarzburg-Sondershausen.
In Bernburg on 13 November 1750 Victor Frederick married morganatically for a third time to Konstanze Fredericka Schmidt, a commoner. She was ennobled and obtain the title of Baroness of Bähr (German: Frau von Bähr) in 1752, shortly before the birth of their only daughter:
Louise Fredericka Wilhelmine of Bähr (b. 4 May 1752 - d. 6 July 1820), married on 12 November 1768 to Otto Henry Louis, Count of Solms-Tecklenburg.