Mateo Tañaquin was a native of Tigbauan in Iloilo, where he grew up with his six siblings. He competed internationally for the Philippines in lightweight freestyle wrestling during the 1950s, including twice at the Asian Games (4th in 1954, 6th in 1958) and at the 1956 Olympic Games in Melbourne, where he was defeated in the second round of the tournament by Jack Taylor of Great Britain. A career Naval officer, he was also the uncle of fellow freestyle wrestler Arturo Tañaquin, and a cousin of Hernando Tañaquin, who represented the Philippines internationally in the 1990s. Several of his brothers were also prominent civil servants in his hometown of Tigbauan.