Born in Truckee, California, United States, and raised in The Woodlands, Texas, Will is the son of Liza Rey, a classical musician, and Edwin Farnham Butler II, a geologist. His maternal grandfather was guitarist Alvino Rey. He graduated from Phillips Exeter Academy in 2001, where he lived in Abbot Hall, and subsequently attended Northwestern University, majoring in Poetry and Slavic studies. During this time, he worked as a DJ for the WNUR Rock Show, where he also hired Nathan Amundson of Rivulets to be a substitute DJ at WNUR-FM. He also served as the poetry editor of Northwestern's literary magazine, Helicon. An excerpt of a poem from his senior thesis is quoted in Brian Bouldrey's book, "Honorable Bandit: A Walk Across Corsica." While at Northwestern, Butler lived in Chicago, Illinois. He moved to Montreal, Quebec, Canada in the mid-2000s to join his brother Win Butler and band Arcade Fire.