Fawcett appeared on Broadway in 2003 in Nancy Hasty's play Bobbi Boland, which played seven performances but never officially opened. In 1983, she took over the lead role in the Off-Broadway production of Extremities, and later re-created the part of Marjorie for the 1986 film version, for which she received one of her six Golden Globe Award nominations.
A three-time Emmy Award nominee, Fawcett appeared in such television films as The Burning Bed, Small Sacrifices, Nazi Hunter: The Beate Klasfeld Story, and Poor Little RIch Girl. Her big-screen credits included Logan's Run, The Apostle and Dr. T and the Women.
She was married to actor Lee Majors from 1973-1982 and has a son, Redmond, with her longtime companion, actor Ryan O'Neal.