He was the brother of Emperor
John II Komnenos and the historian
Anna Komnene. Isaac was given the dignity of
kaisar (Caesar) by his father.
After the succession of John II in
1118, Isaac was received at the imperial court almost as an equal to the emperor and received the elevated dignity of
sebastokratōr. He engaged in charitable works, including the restoration of a monastery near the Blachernae palace. By
1130 John and Isaac had become estranged, and Isaac was forced to flee
Constantinople for 6 years after an alleged conspiracy. Isaac sought refuge at several eastern courts, including those of the
Danishmendid amir
Gümüshtigin Ghazi II ibn Danishmend at
Melitene, and in
Jerusalem. In
1136 Isaac returned to Constantinople and was reconciled with his brother. At John II's death in
1143, Isaac was sent away to Herakleia Pontica, ostensibly to keep him from seizing power, which he was indeed tempted to do in
1145–1146. He may have been forced into a rural retirement and in
1152 endowed his own monastery near Ainos in
Thrace.
This potential for conflict within the top tier of the court aristocracy would continue into the reign of
Manuel I Komnenos, and eventually Isaac's son
Andronikos became emperor in
1183.