William Edgar Prince was born around 1815 in Boston, Massachusetts, to Thomas and Caroline Prince. He joined the Union army in August 1838, receiving a commission as a 2nd lieutenant in the 1st United States Infantry. He was promoted to 1st lieutenant in November 1839. He took part in the Second Seminole War and the Mexican American War, and he was promoted to captain in August 1849. He married Maria Salter on November 30, 1848, and they had at least three children: Gertrude, born around 1852; Louisa, born around 1854; and Susan, born around 1859.
By 1861, he was serving as the commanding officer of Fort Leavenworth. He remained in the army during the war, and in November 1861, he was promoted to major and assigned to the 3rd United States Infantry. The regiment took part in the Peninsula campaign, the Second Battle of Manassas, the Battle of Antietam, the Battle of Fredericksburg, the Battle of Chancellorsville, and the Battle of Gettysburg. He retired on March 30, 1864.
He settled in New York City after leaving the army. His wife probably died in the early 1860s, and he married Anna S. Coolidge on June 21, 1866. He divided his time between New York City and Newport, Rhode Island, and he employed at least five servants. He died in New York City on January 21, 1892.