- March 26 – The Siege of Algeciras, one of the first European military engagements where gunpowder was used, comes to an end.
- October 24 – Smyrniote Crusade: a Christian fleet succeeds in taking the port city of Smyrna from the Aydinid Turks.
- December 6 – Five-year-old Erik Magnusson, the eldest son of king Magnus IV of Sweden, is appointed heir to the Swedish throne, even though Sweden, at this time, is an elective monarchy.
- King Edward III of England introduces three new gold coins, the florin, leopard, and helm. Unfortunately the amount of gold in the coins doesn't match their value of 6 shillings, 3 shillings, and 1 shilling and sixpence, so they have to be withdrawn and mostly melted down by August of this year.
- The St. George's Night Uprising: Livonian Order hangs Vesse, the rebel Estonian Elder of Saaremaa Island.
- Bablake School was founded in Coventry, England by Queen Isabella.
- The Compagnia dei Bardi in Florence goes bankrupt, along with the Peruzzi Bank and the Acciaiuoli Bank.
- Famine in China.
- King Peter IV of Aragon defeats and deposes his cousin, James III of Majorca, thereby absorbing the Balearic Kingdom of Majorca into the Crown of Aragon.
- February 9 – Meinhard III, Count of Tyrol (d. 1363)
- September 18 – Marie Valois, daughter of King John II of France (d. 1404)
- October 10 – Mary Plantagenet, daughter of King Edward III of England (d. 1362)
- date unknown
- January 11 – Thomas Charlton, bishop and Lord High Treasurer of England
- January 30 – William Montacute, first Earl of Salisbury (b.1301)
- April 17 – Gosdantin II of Armenia
- July 11 – Ulrich III, Count of Württemberg (b. c. 1286)
- date unknown
- probable – Simone Martini, Sienese painter (b. 1284)