Kyra Minturn Sedgwick was born on August 19, 1965 in New York City to Patricia (Rosenwald), a family and speech therapist, and Henry Dwight Sedgwick V, a venture capitalist. Her mother was from an upper-class German Jewish family, and her father was from a wealthy Massachusetts clan of English descent, with many prominent ancestors (including Judge Theodore Sedgwick and educator Endicott Peabody).

Sedgwick attended private schools. She made her professional acting debut at age 16 on the soap opera Another World (1964). A graduate of USC, Kyra has pursued a career that includes stage, screen and television. Kyra's reason for becoming an actor is that it gives her the ability to be compassionate and to walk around in the shoes of others. Her first brush with stardom came in Born on the Fourth of July (1989) as "Donna", the high-school sweetheart of Tom Cruise. Two of her roles led to Golden Globe nominations: Miss Rose White (1992) and Something to Talk About (1995). She met her husband, Kevin Bacon, when they played leads in the television movie Lemon Sky (1988). They have two children.