Edward Lloyd II was born on February 7, 1671, at Wye plantation in Talbot County, Maryland to Henrietta Maria (née Neale) Bennett (1647–1697) and Colonel Philemon Lloyd (c. 1646–1685).^[1] He was the eldest of ten children. His grandfather was Edward Lloyd I.^[1]

Upon his father's death in 1685, he inherited "White House and Woolman Neck land". In 1686, after his grandfather's death, he was left Wye plantation.^[1]

Lloyd spawned a long line of Edward Lloyd's who were active in Maryland politics, including Edward Lloyd IV, a delegate to the Continental Congress, and Edward Lloyd V, who would serve as Governor of Maryland from 1809 to 1811.^{[citation needed]}

Like his father and grandfather, Lloyd exported tobacco to England and imported and sold goods from England. He also traded with Barbados.^[1]

Lloyd was named justice of the Talbot County court in October 1694 and served until August 1701.^[1] By 1698, he was a colonel of the county militia, and served in that role until 1707.^[1] In 1707, he was named Major General of the Eastern Shore militia.^[1]

In March 1698, he was elected to the Maryland General Assembly's lower house. He would serve in the lower house until 1701, when he was appointed to the upper house.^[1] He remained in the upper house until 1716. He succeeded John Seymour as Royal Governor of Maryland after his death in 1709.^[1] He was elected President of the Council when the senior member of the council, Colonel Francis Jenkins, failed to assert his rights of seniority.^{[citation needed]} Lloyd was succeeded by John Hart.^[1]

During his tenure as Royal Governor, Lloyd tried to maintain Seymour's policies, but the lower house prevailed on issues like judicial procedures and regulation of the tobacco trade.^[1]

Lloyd married Sarah Covington (1683–1755) on February 1, 1704. Together, they had five sons and one daughter.^[1]

Lloyd died on March 20, 1719. He was buried at the family's burial ground at Wye House.^[1]