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Was born in Moscow. Graduated from the Komissarov Vocational School in 1910. From 1915, he studied at the Art Studio under F.Rerberg. Nietzsche’s book “Thus spoke Zarathustra”, theosophy and the idea of human potential were inspiration behind the spiritual content in Fateev’s works. Participated in exhibitions: "Moscow youth", "science Fiction and neo-realists" (1916), "Jack of diamonds", "Pearl sunshine" (1917). In 1918 he participated in two exhibitions of the Union of painters in Moscow, and in 1919 - the 1st exhibition of Moscow state storage of works of modern art and at the 8th Public exhibition (paintings without a jury). In 1922 he held a solo exhibition of works by Fateeva, Moscow (110 pictures) and in 1923 - "Exhibition of five" in the Museum of fine arts (now the Pushkin Museum to them. Pushkin), which became the beginning of the creation of the group “Amaravella". Fateev believed it was possible for man to get space. With evolution man would be able to exist in outer space. The artist -fantast Fateev in 1927, headed a group of the artists-cosmists (B. Smirnov-Rusetskiy, S.Shigolev, A.Sardan, V. Pshesetskaya , V.Chernovolenko) “Amaravella”. After disbanding the group and arresting its participants P.Fateev led isolated way of life. Until 1966, the communication with the audience is interrupted. Only in 1966 at the Moscow Power Engineering Institute the exhibition of Fateev’s works was held. In the last years of his life was organized several exhibitions at various institutions, as well as the Pulkovo Observatory and the editorial Board of the journal "Tekhnika-molodezhi". At the Polytechnic Museum held a posthumous exhibition of the artist (Moscow, 1971).