Core features of higher-order cognition are hypothesized to be implemented via distributed cortical networks that are linked via long-range connections. However, these connections are biologically expensive, and it is unknown how the computational advantages long-range connections provide overcome the associated wiring costs. Our study investigated this question by exploring the relationship between long-range functional connections and local cortical microarchitecture. Specifically, our work (i) profiled distant cortical connectivity using resting-state fMRI and cortico-cortical geodesic distance mapping, (ii) assessed how long-range connections reflect local brain microarchitecture, and (iii) studied the microarchitectural similarity of regions connected through long-range connections. Analysis of two independent datasets indicated that sensory and motor areas had more clustered short-range connectivity patterns, while transmodal association cortices, including regions of the default mode network, were characterized by distributed, long-range connections. Confirmatory meta-analysis suggested that this topographical difference mirrored a shift in cognitive function, from perception/action towards emotional and social cognitive processing. Analysis of myelin-sensitive in vivo MRI in the same participants as well as post mortem histology and gene expression established that gradients in functional connectivity distance are paralleled by those present in cortical microarchitecture. Moreover, long-range connections were found to link together spatially remote regions of association cortex with an unexpectedly similar microarchitecture. These findings provide novel insights into how the organization of distributed functional networks in transmodal association cortex contribute to cognition, because they suggest that long-range connections link together distant islands of association cortex with similar microstructural features.