Father Thomas Frederick Price was born on August 19, 1860, in Wilmington, North Carolina. His parents, Alfred and Clarissa Price, were devout Catholics who raised him with a strong faith foundation. After the death of his father in 1866, Price's family moved to a Catholic enclave in Maryland, where his religious education deepened. He felt called to the priesthood early in life and pursued his studies at St. Charles College in Maryland and later at St. Mary's Seminary in Baltimore. He was ordained a priest on June 20, 1886, in the Diocese of Raleigh, North Carolina, becoming the first native North Carolinian to be ordained in the state.

Father Price's early ministry was marked by his dedication to evangelization and pastoral care in North Carolina. He traveled extensively, often by foot or horseback, to minister to Catholics scattered across the rural and predominantly Protestant state. Recognizing the importance of religious education, he founded "Truth" magazine in 1897, aimed at disseminating Catholic teachings and countering anti-Catholic sentiment. His work as a missioner in North Carolina laid the groundwork for his later, more expansive missionary endeavors.

In 1911, Father Price co-founded the Catholic Foreign Mission Society of America, commonly known as Maryknoll, alongside Father James Anthony Walsh. The society aimed to recruit, train, and send American missionaries to foreign lands, particularly Asia. Price's vision was fueled by his belief in the importance of spreading the Catholic faith globally and addressing the spiritual and material needs of people in under-served regions. He became the society's first superior and was instrumental in establishing its seminary and training programs.

Father Price's missionary zeal took him to China in 1918, where he hoped to establish a Maryknoll mission. Despite facing numerous challenges, including health issues and cultural barriers, he remained committed to his mission. His time in China was short-lived, as he fell seriously ill and passed away on September 12, 1919, in Hong Kong. Though his life was cut short, his legacy lived on through the continued work of the Maryknoll Fathers and Brothers, who expanded their missionary efforts across the globe.

Father Thomas Frederick Price's contributions to the Catholic Church and missionary work have been recognized and honored in various ways. In 2012, his cause for canonization was introduced, and he was declared a Servant of God, the first step in the process of becoming a saint. The Father Price Guild in the Diocese of Raleigh and this society continue to promote his cause, preserving his legacy and inspiring others to follow in his footsteps. Price's life exemplifies a profound commitment to faith, evangelization, and the service of others, leaving an enduring impact on the Catholic missionary movement in the United States and abroad.