Russell was born in Allegheny, Pennsylvania, USA. He was the second son of Joseph L. Russell and Ann Eliza Birney, who were Presbyterians of Scottish-Irish descent.

Russell for a time attended the Episcopalian Church, but his interest in spiritual matters was kindled when he attended a sermon of Adventist Preacher Jonas Wendell.

In 1873, at the age of 21, Russell published a booklet entitled The Object and Manner of the Lord’s Return. Around 50 000 copies were published. In 1879, he began publishing Zion’s Watch Tower and Herald of Christ's Presence, now known as The Watchtower.

Convinced of the need to promote what he considered to be the truth of the Bible’s message, Russell dissolved his partnership in his father's haberdashery business and devoted his entire fortune, approximately a quarter of a million dollars, to the promulgation of the Christian religion and the distribution of Bible literature.

Russell died at the age of 64 on a train in Pampa, Texas, while on a lecture tour of the midwestern and southern parts of the United States.