Its northern terminus is at SR 514 about 2 miles (3.2 km) southwest of Shreve.

All of SR 754 is located within the north central portion of Holmes County.

The state highway is not inclusive within the National Highway System, a system of routes determined to be most important for the nation's economy, mobility and defense.

[4][5] The current route has been a part of the state highway system since 1937 when it was the northernmost section of SR 234.

[8] By 1953, the entire route had been paved after being a gravel road since its inclusion within the system.