Edward was born November 29, 1907, in San Francisco, California in a Presbyterian family. He was educated at Stanford University (BA., 1929). After graduating he continued his education by travel, especially in Spain and in the Near East. After a brief term of study in San Francisco Theological Seminary, he transferred to Westminster Theological Seminary in the fall of 1932 to study under J. Gresham Machen, completing the regular course of study in 1935. Particularly interested in the study of the Old Testament, he spent the year following his graduation from seminary at the University of Leipzig studying under Albrecht Alt. Later he took further graduate work at Dropsie College of Hebrew and Cognate Learning in Philadelphia and was awarded the degree of Doctor of Philosophy by that institution in 1943.

Young joined the Old Testament department of Westminster Theological Seminary in 1936, where he taught until his death. He was first instructor (1936-39), then assistant professor (1939-46), and finally professor (from 1946) of Old Testament. In December 1966 he was elected chairman of the faculty and served as editor of the Westminster Theological Journal. Ordained in the Presbyterian Church, USA (1935), he transferred to the Orthodox Presbyterian Church in 1936. As a minister in the OPC, he was extensively involved in its life and became one of its most admired leaders. On February 14, 1968, at the age of sixty, he suffered a heart attack at his home and fell asleep in Christ shortly after being taken to the hospital.