Caputo was born on November 4, 1872, in Salerno. His father, a set designer and theater decorator, encouraged him to pursue an artistic career. He enrolled at the Institute of Fine Arts in Naples, where he studied drawing with Stanislao Lista and painting with Domenico Morelli. In addition to his academic training, Caputo also frequented the studio of Gaetano Esposito, whose naturalistic style had a lasting influence on him.

He exhibited some of his works at the Third Triennial Exhibition in Milan and at the Promotrice "Salvator Rosa" in Naples, but they were not as well received as he had hoped. Caputo therefore decided to move to Paris around 1899-1900. There, he established himself as a painter of elegant genre scenes, portraits, and scenes of Parisian life, becoming one of the most important Italian artists active in Paris in the early 20th century. He regularly participated in the Salon des Artistes Français and other international exhibitions.

His style combined his academic background with French Impressionist influences, which he expressed through the luminosity of his scenes, soft brushstrokes, and vibrant colors.

In France, he received recognition and official commissions, such as the 1914 mission to Morocco on behalf of the French government.

Caputo remained in Paris until his death on October 13, 1948.
Today, his paintings are prized by collectors and museums for their refined depiction of Belle Époque Paris and their fusion of Italian and French artistic traditions.