In a review for AllMusic, Timothy Monger wrote: "Though billed as a Paul Simon anthology, Sony's 19-song Ultimate Collection features nearly as much Simon & Garfunkel material as it does his solo work" and the collection displays "his range equally as a singer...and a songwriter," concluding that "while it would be nice to see some representation of Simon's excellent solo releases of the late '90s and early 21st century, it's tough to argue with the selections offered here."[3]
The Ultimate Collection debuted at number one on the UK Albums Chart on April 19, 2015, after selling 15,487 copies in its first week, marking Simon's sixth UK chart-topper and his first in 25 years.[4] It also made Simon, at 73 years, six months and seven days old, the second oldest male soloist ever to have a number-one album, trailing only Bob Dylan who was two months and nine days older when his album, Shadows in the Night, topped the chart two months earlier.[4] However, the album's sales were the lowest for a UK number-one album since Rihanna's album Talk That Talk returned to number one in August 2012 on sales of 9,578.[4]