The western terminus of this state route is at a T-intersection with State Route 260 nearly 6 miles (9.7 km) southwest of Summerfield in eastern Noble County, and its eastern terminus is at State Route 145 approximately 2 miles (3.2 km) northwest of Stafford in western Monroe County.

The entirety of the state highway passes amidst a forest, with the occasional grassy meadow making an appearance at select points along the route.

State Route 724 starts out heading easterly, intersecting Noble County Road 43 before bending into a more southeasterly trend, passing Stock Township Highway 232 prior to meeting County Road 45.

Here, the state route turns to the east-northeast, and comes across Township Highways 233 and 234 at back-to-back intersections.

After crossing the county line into Monroe County's Franklin Township, the state route ultimately arrives at its endpoint at its junction with State Route 145 northwest of Stafford.