Stephenson was born in Derby. He was a right-handed batsman and wicket-keeper, who played first-class cricket for Derbyshire between 1967 and 1968.[1] He joined Hampshire for the 1969 season.
Hampshire played steadily during 1969, finishing the season in fifth place, though the team found the following season hard-going and ended 1970 with just four victories under their belt.
Stephenson continued to serve Hampshire through the inconsistent times of the mid-70s, the highlight being the team's second-ever victory in the County Championship in 1973. Stephenson remained a first-team choice through the late 1970s, and into the 1980 season, but he retired from first-class cricket after Hampshire's bottom-placed finish in that season's County Championship. Stephenson's sole first-class century came for Hampshire against Somerset in 1976. He was club captain during his penultimate season following the retirement of Richard Gilliat.