[4] Lloyd was an indefatigable opponent of the Roman Catholic tendencies of James II of England, and was one of the seven bishops who, for refusing to have the Declaration of Indulgence read in his diocese, was charged with publishing a seditious libel against the king.

[citation needed] He engaged Gilbert Burnet to write The History of the Reformation of the Church of England and provided him with much material.

He was a good scholar and a keen student of biblical apocalyptic literature and himself "prophesied" to Anne, Queen of Great Britain, Robert Harley, 1st Earl of Oxford and Mortimer, William Whiston, and John Evelyn the diarist.

He was buried in the church of Fladbury, near Evesham in Worcestershire, of which his son was rector and where a monument is erected to his memory with a long inscription.

[5][6] In a 2024 article published in the The Welsh History Review historian Prof. William Gibson states that William Lloyd's role needs to be re-evaluated from that of a "mainstream Anglican bishop who sought unanimity with other churchmen in response to James II’s policies" to that of an active conspirator against the King.