Calderón was born in Paucartambo (Cusco Region) in 1843. He was elected second vice president with Manuel Candamo. The first vice president was Lino Alarco, who had died before his investiture. Under such circumstance, Calderón had to assume the presidency on May 7, 1904 after the death of Candamo. Calderon called for elections and José Pardo y Barreda of the Civilista Party was declared the winner. He governed until September 24, 1904, before he was succeeded by Pardo.
He died in Cusco in 1922.