Mike Peluso was born September 2, 1974 in Bismarck, North Dakota. The 10th choice, 253rd overall selection of the Calgary Flames in the 1994 NHL Entry Draft, Peluso who is the second cousin of 10-year NHL veteran Mike Peluso, is a graduate of the United States Hockey League's Omaha Lancers. Peluso then went on to join the University of Minnesota-Duluth in the fall of 1994.
Peluso spent four years as a member of the UMD Bulldogs where he scored 20 goals or more in three of his four seasons and was a WCHA Second Team All-Star in 1996-97 and a WCHA Third Team All-Star in 1995-96 and 1997-98.
A member of the WCHA's All-Academic Team in 1996-97, the Bismarck, North Dakota native joined the Portland Pirates of the AHL after signing as a free agent with the club's parent club, the Washington Capitals, in the fall of 1998. Following his four years at UMD, Peluso played three seasons in Portland before having his rights acquired by the St. Louis Blues in November of 2000. Upon his arrival with the Blues organization, Peluso spent the remainder of the season with the club's AHL affiliate in Worcester.
Following a brief stay in Worcester, the Chicago Blackhawks signed Peluso during the off-season and he went on to split his 2001-02 season with Chicago and their AHL affiliate in Norfolk. In the summer of 2003, Peluso signed with the Philadelphia Flyers, his fifth NHL organization and went on to spend the majority of the 2003-04 season with the Philadelphia Phantoms of the AHL.