Hutchinson was born in Bentonville, Arkansas and he graduated from Bob Jones University. Hutchinson was a pastor, a history instructor and he owned a radio station. Hutchinson served in the Arkansas House of Representatives from 1985 to 1992. He was elected to the U.S. House of Representatives as a Republican in 1992, representing the 3rd District. Hutchinson served in the House until 1997, when he ran for the Senate seat being vacated by David Pryor. He won narrowly, becoming the first Republican Senator from Arkansas since Reconstruction.

During his term as Senator, Hutchinson divorced his wife of 29 years and remarried. When he was up for re-election, his Democratic opponent was David Pryor's son Mark. While not made an issue by Pryor in the campaign, Hutchinson's divorce had substantially hurt his popularity and he lost to Mark Pryor by six percentage points.

Tim's brother Asa Hutchinson was also a member of the U.S. House of Representatives. His twin sons, Tim Hutchinson, Jr. and Jeremy Hutchinson, are both members of the Arkansas House. Timothy represents parts of Rogers and Lowell while Jeremy represents part of Little Rock.