The song was released to US urban contemporary radio stations as the fourth and final single from the album on February 19, 2013, through Maybach Music Group and Warner Bros. Records.

Mill subsequently recorded and released Dreams and Nightmares in 2012, featuring guest appearances by the rapper on "Believe It", "Maybach Curtains", and "Lay Up".

[12] In February 2013, Mill told Vibe on the red carpet at the 55th Annual Grammy Awards that the song was set for release as a single and a music video was in production.

[13][14] On February 19, it was serviced to urban contemporary radio stations as the album's fourth and final single by Maybach and Warner Bros.[15] The song's music video premiered via MTV on March 24, 2013, and was directed by Dre Films.

[18][19] In February 2013, Mill and Rick Ross performed "Believe It" for the ninth annual edition of BET's show Rip the Runway at Hammerstein Ballroom in New York City, which aired on the network a month later.

Hypebeast's Richard Brooks said Mill and Rick Ross meet expectations over the instrumentation, concluding that "the hard-hitting track is sure to [be] on repeat" in many vehicles upon the album's release.

[21] Writing for Pitchfork, Jordan Sagent thought that Mill's struggle and triumph on the song are "plainly articulated" and could be felt, saying this feels "eminently vital" and it is among the album's best tracks.

[7] Edwin Ortiz was more critical in HipHopDX, explaining the song follows "in the formulaic standard" that was to Mill's success on Maybach's Self Made releases, yet merely manages to provide "enough satisfaction for a repeat listen".

[24] In a somewhat negative review at AllHipHop, K1ng Eljay was similarly disappointed that the song "suffers from the same topics" Mill had previously discussed and is sonically the same as his earlier Rick Ross collaborations "Tupac Back" (2011) and "Black Magic" (2012).