Elizabeth's father was Sir James Melville of Halhill (1535–1617), a courtier and diplomat who served Mary Queen of Scots. He married Christian Boswell (who died in 1609). Elizabeth's siblings were James, Robert and Margaret. Elizabeth was born around near Colessie in Fife.

Elizabeth married John Colville, a landowner, and they had seven children: Alexander, James, Robert, John, Samuel, Christian and another un-named daughter.

Elizabeth was the first Scotswoman to have her work published, with her first poem 'Ane Godlie Dreame' being written in Scots and printed in 1603 (and reprinted, with English translation,until 1737). Her work includes sung poems and manuscript verse and is still being discovered and appreciated - manuscripts containing 29 of her poems were only found in 2002.

Many of her poems support the struggle for religious freedom, in opposition to the policies of James VI of Scotland (I of England) and his son Charles I, leading to the National Covenant oin1638.