Aldrich travelled with his father in his early years. He returned to Portsmouth to study for college, but his father's death in 1852 required that he earn a living; first in a business office in New York, then, as a journalist. He contributed to numerous magazines and newspapers. Among them, the New York Illustrated News. In 1865, he moved to Boston where he was editor of Ticknor & Fields' Every Saturday magazine. In 1881, Aldrich was brought in as editor at the Atlantic Monthly, a position he held until 1890. He was a talented poet and published many volumes of verse.
Aldrich died at Boston on March 19, 1907. His last words were "In spite of it all, I'm going to sleep."