The Wall Street: Money Never Sleeps actor told The Sun that he lost contact with his father for several years after his parents divorced.
"My father was never around because he was selling drugs to keep us alive. And my mother was never around, because she was selling brochures in the park to keep us alive," he said. "They never had time for each other, and they fell out. It ruined my life for a long time. I am not the first one to go through it, but I blamed myself for it."
He continued: "But they were just not meant to be. And that's okay too. I love them both and they are both friends."
LaBeouf added that his father only took an interest in him after he began starring in Disney Channel's Even Stevens in 2000.
"I rented my dad back into my life. This business gave me my father. Money gave me my father," he said.
"If I had no money and no way to supplement my father's income so he could survive, I would have no father."
He concluded that he was able to grow close to his dad during his teenage years after Jeffrey began accompanying him to the sets of his films.