Young was born in Toronto, Ontario, Canada. His father Chip Young, an American born in Missouri, was a well-known CBC broadcaster and children's book author, as well as Composer of Canadian classic 'Honky The Christmas Goose' , while his mother is a nurse from Newcastle, Australia. His family left Toronto for Australia in 1981. Young attended Galston High and Australian Theatre For Young People as a teenager.

Young was cast in his first role, as a young Jesuit priest in Bruce Beresford's acclaimed religious epic Black Robe (1991)on his 18th birthday. International acclaim followed and Young was dubbed 'the next Marlon Brando' in France and 'the next Mel Gibson' in Hollywood but returned to Australia to support the local industry and focus on projects that he was more drawn to.

Young was nominated for an Australian Film Institute Best Actor award and won a Film Critics Circle of Australia Best Actor award for his role as the 'ratty-looking loser' Psycho Joe opposite Ben Mendelsohn in Metal Skin (1994), Geoffrey Wright's examination of suburban hopelessness and revhead subculture, which screened internationally in competition at Venice Film Festival and Stockholm Film Festival amongst others . One reviewer wrote that "Young's depiction of this unsettling metamorphosis is central to the film's success." Geoffrey Wright stated “There could be no dispute that he is one of the best actors in the country.”

Early 2000's saw him starring as a traumatized Canadian soldier in 'War Bride', a German priest in 'Serenades', and smaller roles in Crocodile Hunter Collision Course and a Doctor in Cox's Molokai.

In 2004 he signed onto the Sydney Theatre Company production of Hedda Gabler as Cate Blanchett's tortured alcoholic lover Ejlert Lovberg. The production also had a 2006 season at Brooklyn Academy of Music and spawned documentary 'In The Company Of Actors'. .

Young has two sons, Dutch (born 2007) and Chester (born 2011), with his longtime partner, Australian singer-songwriter-musician-actress Loene Carmen. They married in Zebulon, Georgia while filming season 2 of Rectify, in 2014.

A portrait of Young by Artist James Powditch was a 2008 Archibald Prize finalist. Young also appears in Powditch's 2012 work Beserk Warriors.

Young reunited with Beresford for Mao's Last Dancer (2009), based on the 2003 best-selling autobiography of Chinese ballet Dancer Li Cunxin, playing a Texan oil tycoon. Beresford stated that Young's "a very cooperative and thoughtful actor."

Young mimed the hit song "Even Though I'm A Woman", by the Australian female indie supergroup Seeker Lover Keeper, in the 2011 music video directed by Natalie Van Dungen. He played American techno geek Meyer in the Jason Statham/Robert De Niro action film Killer Elite and performed a cameo as Dr Victor Frankenstein in I, Frankenstein.

In June 2012, Young was announced as the lead character Daniel Holden in the SundanceTV Southern Gothic series Rectify, which follows Holden's journey when he is released back to his family in a small Southern town after 19 years on Death Row for the murder of his girlfriend, following new evidence.. His critically acclaimed performance was hailed as 'a haunted wonder' with Variety proclaiming "Aden Young’s portrait of Daniel is one of the greatest performances to ever grace any screen, without question. It’s a travesty he hasn’t been nominated for every single acting award in the TV world. The entertainment industry should make up new awards just to give to him."

Young edited Paul Cox documentaries 'Kalaupapa Heaven' 'Tajiri' and feature film 'Salvation'.He also directed Carmen's music videos for 'Everyone You Ever Knew (Is Coming Back To Haunt You'(2015) and "Nashville High" (2007) as well as editing her music video "Mimic the Rain" (2009).

In 2017 Young took the lead in Damnation before departing over creative differences.

He will play villain Cyrus Mendenhall in Canadian indie drama Angelique's Isle set for release in 2018 and stars in upcoming romantic comedy Elsewhere.