He co-founded Dallas Theological Seminary with his older brother Rollin Thomas Chafer[1] (1868-1940), served as its first president, and was an influential proponent of Christian Dispensationalism in the early 20th century.

John Hannah described Chafer as a visionary Bible teacher, a minister of the gospel, a man of prayer with strong piety.

They were married April 22, 1896 and formed a traveling evangelistic music ministry, he singing or preaching and she playing the organ.

Among his students were Jim Rayburn, founder of Young Life (as well as many of Young Life's first staff members), Kenneth N. Taylor, author of The Living Bible translation, and numerous future Christian educators and pastors, including Howard Hendricks, J. Dwight Pentecost, Charles Caldwell Ryrie, J. Vernon McGee, and John Walvoord, who succeeded him as president of DTS.

Chafer believed the basic truths for Christian living are found in Romans 5, a chapter which teaches about peace, grace, weakness, hope, sacrifice, love, and joy.

[8] In recognition of this, Dallas Theological Seminary offers a commencement award, the Lewis Sperry Chafer Award, every year to the graduating master's student who: "in the judgment of the faculty because of his well‐balanced Christian character, scholarship, and spiritual leadership, best embodies and portrays the ideals of Dallas Theological Seminary."

His overall theology could be generally described as based on the inductive study of the entire Bible, having similarities to John Nelson Darby of the Plymouth Brethren, a mild form of Keswick Theology on Sanctification, and Presbyterianism, all of these tempered with a focus on spirituality based on simple Bible study and living.

Similarly to Charles Ryrie, Chafer defined repentance as being a mere synonym for faith, denying that it refers to sorrow for sin.

He also believed that in the work of redemption, there exists a subordination of order in the trinity where the Father sends the Son but not vice versa.

Lewis Sperry Chafer wrote, "These pages represent what has been, and is, taught in the classrooms of the Dallas Theological Seminary".

If you are going to use “straw men” to defeat dispensational theorists, make sure your scarecrow favors Lewis Sperry Chafer.