Jimmy Reed was born in Dunleith, Mississippi in 1925, learning the harmonica and guitar from Eddie Taylor, a close friend. After spending several years busking and performing in the area, Reed moved to Chicago, Illinois in 1943 before being drafted into the United States Navy during World War II. In 1945, Reed was discharged and moved back to Mississippi for a brief period, marrying his girlfriend, Mary "Mama" Reed, before moving to Gary, Indiana to work at an Armour & Co. meat packing plant. By the 1950s, Reed had established himself as a popular local musician and joined the "Gary Kings" with John Brim, as well as playing on the street with Willie Joe Duncan. Reed failed to gain a contract with Chess Records, but then signed with Vee-Jay Records through Brim's drummer, Albert King. At Vee-Jay, Reed began playing again with Eddie Taylor and soon released "You Don't Have To Go", his first hit song. This was followed by a long string of hits. Reed maintained his reputation, in spite of rampant alcoholism. Sometimes, his wife had to help him remember the lyrics to his songs while performing. In 1957, Reed developed epilepsy, though the disease was not correctly diagnosed for a long time, as Reed and doctors assumed it was delirium tremens. In spite of his numerous hits, Reed's personal problems prevented him from achieving the same level of fame as other popular blues artists of the time, though he had more hit songs than many others. When Vee-Jay Records closed down, Reed's manager signed a contract with the fledgling ABC-Bluesway label, but Reed was never able to score another hit. Jimmy Reed died in Oakland, California in 1976, a few days short of his 51st birthday. He is interred in the Lincoln Cemetery in Worth, Illinois. In 1991 Jimmy Reed was inducted into the Rock and Roll Hall of Fame.

The Rolling Stones have cited Reed as a major influence on their sound, and their early set lists comprised many of Reed's songs. The Rolling Stones recorded tracks like 'Ain't That Loving You baby', 'The Sun is Shining' (also played at the Stones' 1969 Altamont concert), 'Close Together', 'Bright Lights Big City' and 'Shame Shame Shame" in 1963 as demos to offer to record companies like Decca, and their February 1964 hit single "Not Fade Away" had as the B-side "Little by Little", a pastiche of "Shame, Shame, Shame". Their first album released in April 1964 featured their cover of Reed's "Honest I Do".

Reed's recordings of "Big Boss Man" and "Bright Lights, Big City" were both voted onto the list of The Rock and Roll Hall of Fame's 500 Songs that Shaped Rock and Roll.