Honda Masatsura served as a high-ranking hatamoto, or direct retainer of the shōgun, during the early Edo period.

In 1593, Masatsura was born as the eldest son of Nagasaka Shigeyoshi.  Masatsura was later adopted by Honda Masashige, the head of the Shimōsa-Funato domain, to become his heir.  This happened after Masashige’s eldest son, Honda Masauji, martyred himself in connection with the Hidetsugu Incident, while his second son, Honda Masakane, died at an early age.  As a result, Masashige was left without a natural successor.  Meanwhile, Masashige’s daughter was the natural mother of Masatsura, meaning he was the grandson of Masashige.  In 1617, upon the death of Masashige, Masatsura succeeded him as the head of the family.  However, the Edo bakufu reduced the fief from 10,000 koku to 8,000 koku, so, rather than becoming a daimyō like Masashige, Masatsura became a hatamoto, or direct retainer of the shōgun.  The reduction in the fief and role were said to be provided for in the will of Masashige.

In 1634, he was appointed to serve as the head of personal security for the Tokugawa shōgun.  In 1642, he was appointed as the director for the collection of levies.  In 1664, he was succeeded by his eldest son, Honda Masanao, and retired.

Masatsura died on 2/1 of Kanbun 12 (1672) at the age of eighty.