Theodore Price was born in New Orleans, Louisiana to Arthur Price, Sr. and his wife, Alice Gentilucci. He was raised in Bay St. Louis, Mississippi. Prior to his military service he had worked at a lumber mill.

Theodore joined the army during the Mexican trouble and was in the first group sent to Europe in WWI. He served in the U.S. Army as a Mechanic in Company D, 3rd Machine Gun Battalion, 1st Infantry Division. He was killed at the Battle of Vesle, near the Vesle River, France on July 18, 1918. News items say he was 23 at the time of his death, however, it is more likely he was born July 1893 and was thus 25. He is now buried in Arlington National Cemetery, Arlington, Arlington County, Virginia, USA.