He began his playing career after being signed by the St. Louis Cardinals from Christian Brothers High School in Memphis in 1959. He hit .359 that year while splitting time between the Cardinals' minor league teams in Keokuk and Rochester and, though just 17 years old, was briefly called up to the Cardinals.

He spent the 1960, 1961, and 1962 seasons shuttling between St. Louis and the minor leagues in places like Memphis, Charleston, and Atlanta. In 1963, he was called up to the majors for good.

McCarver's greatest playing success came with the Cardinals. In 1966, he was named to the all star team. In 1967, he finished second to teammate Orlando Cepeda for the National League Most Valuable Player award. He was a member of two World Series championships during his time in St. Louis, and fostered a relationship with young pitcher Steve Carlton that would keep him in the major leagues later in his career.

After a trade to Philadelphia involving, among others, his teammate Curt Flood (which led to Flood's dramatic lawsuit challenging baseball's reserve clause) before the 1970 season, McCarver began a somewhat nomadic existence playing for the Phillies, Expos, Boston, and another brief stint with the Cardinals.

McCarver finished his career as the personal catcher for Steve Carlton for the Phllies in the late 1970s, which prompted some critics to remark that he is most known for "holding Carlton's jock strap". He retired after the 1979 season to begin a broadcasting career. McCarver briefly returned to duty in September 1980 so he could play in four different decades.

The minor league baseball stadium in Memphis was christened "Tim McCarver Stadium" in 1978; it was replaced by a new downtown stadium (named AutoZone Park in a naming rights arrangement) in 2000.

McCarver currently resides in Bryn Mawr, Pennsylvania.