George Wallace was born in Dublin but trained under Paul FEILER at the West of England College of Art in Bristol. From 1949 to 1957 he taught painting, drawing, printmaking and sculpture at Falmouth School of Art. He lived initially in Penryn, then Falmouth, painting abstract landscapes inspired by the St Austell clay pits. This theme was to remain an inspiration throughout his career. Around 1955 Wallace attended Falmouth Polytechnic in order to learn to weld.

In 1957 he emigrated to Canada, embarking on a career as a teacher of art at McMaster University in Hamilton, Ontario. His works in a variety of media were exhibited widely, and he developed a reputation as a sculptor of significance. He retired to British Columbia in 1985 and died in 2009 at the age of 89.