Krebs was born in Lansing, Iowa, the third child of william Carl Krebs, a Presbyterian minister and Louise Helen (Stegeman) Krebs. The family moved frequently due to the nature of his father's work, though they settled in Greenville, Illinois when Krebs was six and remained there until his father's unexpected death in 1933. Louise Krebs decided to move her family to Urbana, Illinois, where Krebs's elder brothers were attending the University of Illinois at Urbana-Champaign. Krebs attended Urbana High School, and enrolled at the University of Illinois at Urbana-Champaign in 1936. In his fourth year of study Krebs had decided to either pursue a higher degree in organic chemistry or study Medicine. Receiving a scholarship to attend Washington University School of Medicine in St. Louis, he chose the latter.