Marion Futrell was born in Greene County, Arkansas. Futrell attended the University of Arkansas law school in 1892 and 1893. He was admitted to the Arkansas bar in 1913. Futrell was a school teacher and farmer.
Futrell was elected to the Arkansas House of Representatives and served from 1896 to 1904. He was elected Circuit Court Clerk from 1906 to 1910. Futrell was elected to the Arkansas Senate and served from 1913 to 1917 and served as that body's president for two years. While President of the Senate he served as acting Governor of Arkansas for four months in 1913 after Governor Joseph Taylor Robinson resigned from office. In 1922 he became Circuit Court judge for the Second Judicial District. He served as Chancellor of the district from 1923 to 1933.
Futrell was elected to a full term as Governor of Arkansas in his own right in 1932 and served two terms.
The Futrell administration established the State Planning Board and created the Arkansas Department of Public Welfare. His administration also rescinded prohibition and instituted some legalized gambling.
After leaving office Futrell practiced law.
Marion Futrell is buried at the Linwood Cemetery in Paragould, Arkansas.