He was the son of Richard Woodville, 1st Earl Rivers, and Jacquetta of Luxembourg.
During the Readeption of Henry VI in 1470, he might have accommodated himself to the short-lived restoration of the Lancastrian regime, as Richard was pardoned by King Edward IV, the husband of his sister Elizabeth, on his return to power in 1471.
He served in a local capacity in Hereford, Bedfordshire and Northamptonshire, but never held any major office.
Richard Woodville was the last of his family to hold the title of Earl Rivers.
[5] His personal lands were bequeathed to his nephew Thomas Grey, 1st Marquess of Dorset.