Wood was the son of Thomas Wood and his wife Mary Williams, daughter and heiress of Sir Edward Williams of Langoid Castle and the grandson of Thomas Wood (1708-1799) and was educated at Harrow School (1788–95) and Oriel College, Oxford (1796). The family had accumulated considerable estates at Middleham, Yorkshire, Gwernyfed in Wales and Littleton and Astlam in Middlesex. He married Lady Caroline Stewart, daughter of Robert Stewart, 1st Marquess of Londonderry; they had 4 sons and 2 daughters. His son Colonel Thomas Wood was MP for Middlesex.
Wood and his wife enjoyed the friendship of members of the royal family. George IV visited the Woods at Gwernyfed and other royals visited them at Littleton. William IV nominated Wood to be one of his executors.
Wood remained colonel of the Militia and encamped with them at Aldershot in his eightieth year. He died at the age of 82.