Gaining fame on TV first, he was born Timothy Lee Reid on December 19, 1944, in Norfolk and raised in Chesapeake, Virginia. Coming from a troubled, impoverished childhood, he straightened out his life enough to attend Norfolk State College (now University) and graduate with a business administration degree. Married to wife Rita, whom he met at college, the couple went on to have two children, Tim Reid II and Tori Reid, both involved in the entertainment field.

Tim worked for Du Pont Chemicals in Chicago for a period of time in the late 60s. His first taste of the limelight came around the turn of the 70s when he met an insurance agent named Tom Dreesen, and the two decided to form a comedy nightclub act called "Tim and Tom". At this juncture, Tim decided to focus completely on acting, took up drama classes, and worked as a comic. TV and commercial work started coming his way, finding regular placements on a number of variety series that starred Frankie Avalon, The 5th Dimension singers Marilyn McCoo and Billy Davis Jr., and Richard Pryor in the late 70s.

Making early appearances on such TV shows as "That's My Mama," "Rhoda," "Fernwood Tonite," "Lou Grant," "What's Happening" and "Maude," Tim received his star-making break after nabbing the cool and very hip role of "Venus Flytrap" on TV's WKRP in Cincinnati (1978). It is this radio disc jockey character for which Tim is still best known. Other TV series came his way, including his regular teacher role in the Lynn Redgrave sitcom Teachers Only (1982) and as Lt. Marcel "Downtown" Brown on Simon & Simon (1981)

Now firmly established, Tim started taking more control over his career. He went on to front the series Frank's Place (1987) in which he also executive-produced, received an Emmy nomination, and co-starred with his second wife Daphne Reid before playing a criminology professor in the comedy Snoops (1989), which also co-starred Daphne as his wife, and the more popular Sister, Sister (1994), wherein he starred alongside Jackée Harry as an adopted dad of identical twins Tia Mowry and Tamera Mowry-Housley.

Tim and Daphne went to to co-founded their own production studio (New Millennium Studios), the first ever built in his native state of Virginia. The short-lived program Linc's (1998), starring both Tim and Daphne, was the first to come out of the studio. Over the years, Daphne has been a frequent partner to Tim both in front and behind the camera lens, as actress and co-producer. Together they appeared in the TV movie Alley Cats Strike (2000) and the films Troop 491: the Adventures of the Muddy Lions (2013) and By the Grace of Bob (2016).

Toning down his slick facade over the years, the handsome, mustachioed actor has dedicated himself to films and other projects that have raised social issues as well as increase black awareness. He directed and starred in a hip-hop update of the Pygmalion story with the comedy For Real (2003), which was made at his studio (Daphne was executive producer). With Tim in the "Henry Higgins" role, the film opened the fifth anniversary of the Hollywood Black Film Festival.

In addition to recurring roles on Treme (2010) and That '70s Show (1998) and guest appearances on such shows as "Touched by an Angel," "That's So Raven," "The Soul Man," "Limitless," "Grey's Anatomy" and "My, Myself and I," Tim has graced such films as Trade (2007), The Cost of Heaven (2010), Tri (2016) and 93 Days (2016).