O'Connell was born in Manhattan, the son of Linda, an art Teacher, and Michael O'Connell, an advertising agency art Director. His maternal grandfather, Charles S. Witkowski, was mayor of Bayonne, New Jersey. He is of half Irish, one quarter Italian, and one quarter Polish, ancestry. O'Connell was raised in Manhattan with his younger brother, actor Charlie O'Connell. As a teenager, he attended Manhattan's Professional Children's School. He attended New York University from 1991–95, majoring in film. While there, he studied screen writing and competed on the fencing team, serving a stint as captain of the sabre squad. He graduated in 1995.