Said to have been born the sixth son of Minamoto no Yoshitomo in Kamo-no-mikuriya in Totomi Province (near present-day Hamamatsu, Shizuoka), he was known as "Kamo-no-kaja" (Lord of Kamo). After his father's death in defeat in the Heiji Rebellion (1159) he drifted from place to place, joining his elder brother Yoritomo after the latter raised his army in 1180 and becoming a leading warrior of the Kamakura Shogunate. He participated in the Battle of Ichi-no-Tani in 1184 and also distinguished himself in the campaign to destroy Yoshinaka. That same year, he was dispatched to the western provinces as co-commander of the campaign against the Taira alongside Yoshitsune. Struggling with difficulties of provisions and supply, he crossed to Kyushu and formed an encirclement that cut off the Taira's retreat. After the Taira clan was destroyed at the Battle of Dan-no-ura in 1185, Yoshitsune came to be pursued by Yoritomo, and Noriyori took on a central role among the warriors of the shogunate. However in 1193, when Yoritomo's heir Yoriie died, Noriyori is said to have remarked that "there is no one but Noriyori to succeed Yoritomo" (the reality is unclear), aroused Yoritomo's suspicion, was exiled to Shuzenji in Izu, and died the same year. His age at death is uncertain; he is sometimes said to have been 37. Known as a steady, reliable commander, he is less prominent in history than his brilliantly active younger brother Yoshitsune.

In contrast to Yoshitsune's genius for mobile warfare, Noriyori preferred steady, methodical tactics. Unspectacular but highly dependable, he enjoyed Yoritomo's deep trust. However he was poor at asserting himself, and clumsy in political manoeuvring; he ultimately fell victim to Yoritomo's suspicion.

His operations in Kyushu during the campaign against the Taira were an important contribution that provided flank support for the victory at Dan-no-ura, alongside Yoshitsune's brilliant tactics. He tends to be overshadowed by Yoshitsune, but he was an indispensable warrior in the process of establishing the Kamakura Shogunate. Sites associated with Noriyori remain in Hamamatsu, Shizuoka Prefecture.