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Palmer was born to Doris (Morrison) and Milfred Jerome "Deacon" Palmer (1905-1976) in Latrobe, Pennsylvania, a working-class steel mill town. He learned golf from his father, who had suffered from polio at a young age and was head professional and greenskeeper at Latrobe Country Club, which allowed young Arnold to accompany his father as he maintained the course. Palmer attended Wake Forest College on a golf scholarship. He left upon the death of close friend Bud Worsham (1929-1950) and enlisted in the U.S. Coast Guard, where he served for three years, 1951-1954.

Less than a week after Palmer died, his life was celebrated by both teams at the Ryder Cup at Hazeltine National Golf Club in Chaska, Minnesota, just outside the Twin Cities. The celebration included a video tribute and a moment of silence during the opening ceremony, which also included tributes from the opposing captains - Davis Love III for Team USA and Northern Ireland's Darren Clarke for Team Europe - and the opposing honorary captains - Nicklaus for Team USA and England's Tony Jacklin for Team Europe. During the matches, the players paid tribute to Palmer, which included wearing a special logo, button and pin. Palmer's bag from the 1975 Ryder Cup was also placed on the first tee as a tribute. Palmer had won more than 22 Ryder Cup matches and had also captained Team USA to two victories, in addition to holding or being tied for the records for youngest captain, most career singles points and most points in a single Ryder Cup. PGA of America president Derek Sprague stated:  The game has never known a more enthusiastic sportsman than Arnold Palmer. So it is fitting that we pay tribute to Mr. Palmer during the 41st Ryder Cup, to celebrate it in a very special way, the life of an unforgettable champion and gracious ambassador of the game.  Two days after a 17-11 victory, which marked the first American Ryder Cup triumph since 2008 at Valhalla and which Love dedicated to Palmer, the majority of the team attended the memorial service for Palmer at St. Vincent College in Latrobe and also brought the trophy after Palmer's daughter Amy asked the team if they could do so.  A Golden Palm Star on the Palm Springs Walk of Stars was dedicated to Palmer on January 1, 2017.
Arnold Palmer