Steven McMahon was born in Glasgow, Scotland, where he began his dance training at The Dance School of Scotland. In 2001, Steven moved to the United States to continue his studies at the Ailey School in New York City, where he graduated with honors. In 2004, Steven joined Ballet Memphis as a company dancer and, for the next 13 seasons, danced in much of the company's original repertoire by noted choreographers such as Julia Adam, Trey McIntyre, Mark Godden, Matthew Neenan, and Gabrielle Lamb.

In 2005, Steven created his first work, "What Your Soul Sings," for the dancer-produced program Interiorworks. Soon after, Ballet Memphis's Founding Artistic Director, Dorothy Gunther Pugh, named him Choreographic Associate. Since then, Steven has created over 40 original works that show a great range in scale and style. Major full-length productions for Ballet Memphis include Dracula, Peter Pan, Cinderella, Romeo and Juliet, and the Wizard of Oz. Steven continues to expand his repertoire with works such as A Rare and Gentle Thing, which is danced to the music of icon Dolly Parton, and This Form Shall Rest by bluegrass/folk musician Rhiannon Giddens. Steven has collaborated with several Memphis-based artists and musicians, including visual artist Erin Harmon (Flyway), Memphis record Label Unapologetic and the Memphis Symphony Orchestra for his dance film Out of the Blue; his work Confluence was performed at the Joyce Theater in NYC; his works I AM and Being Here with Other People have been seen at the Spring to Dance Festival in St. Louis.

Steven received the Young Scots Achiever Award in 2001. He graduated from the New Memphis Leadership and Development Institute and is a fellow of National Arts Strategies Senior Leadership and the Salzburg Global Seminars Young Cultural Innovators program. Steven is a member of Dance Memphis, which promotes dance in his adopted city. In 2018, he was named Artistic Director of Ballet Memphis, a position he still holds today.