Maria-Teresa was the daughter of King Felipe V of Spain and his second wife, Princess Maria-Elisabetta of Parma and was born in the Royal Palace of La Grandja de San Ildefonso, in Segovia, Spain.
On 18 December 1744, she married Prince Louis-Ferdinand of France, the Dauphine of Vennois, as his first wife. The marriage was thus partially intended to heal the division between the two branches of the Bourbon family. She became the first Dauphine of Vennois since 1712. The couple became very close and mutually devoted, spending most of their time together.
Although she received some flattering descriptions, being noted as beautiful, pious and dignified, some made negative remarks about her pronounced red hair. Very shy and distant and not interested in games, Maria-Teresa preferred to remain most of the time in her apartments.
They became the parents of one child, Marie-Terese. Three days later, Mariea-Teresa died from complications of childbirth. Her death caused intense sorrow in the Dauphin, a sorrow which persisted even into his second marriage. Louis XV had had to physically drag his son away from the death bed of his wife.