Produced by the songwriters, "I'll Be There" was The Jackson 5's fourth number-one hit in a row (after "I Want You Back" in 1969, "ABC" and "The Love You Save" earlier in 1970), making them the first group to have their first four singles reach number one and the first black male group with four consecutive number-one pop hits.

Said Allmusic about the song, "Rarely, if ever, had one so young sung with so much authority and grace, investing this achingly tender ballad with wisdom and understanding far beyond his years".

Record World said that the "change of pace [in using a slower tempo song than usual] showcases the group's versatility.

The song held the number-one position on the Billboard Pop Singles Chart for five weeks from October 17 to November 14, replacing "Cracklin' Rosie" by Neil Diamond; it was succeeded by "I Think I Love You" by The Partridge Family.

In 2020, Busta Rhymes released a song titled “Look Over Your Shoulders” featuring vocals from Kendrick Lamar, sampling “I’ll Be There”.

American singer-songwriter Mariah Carey had included "I'll Be There" as a last-minute addition to her MTV Unplugged setlist,[citation needed] after she had been informed that most acts on the show commonly perform at least one cover.

The program and resulting MTV Unplugged album were produced by Carey and Walter Afanasieff, who played the piano for the performance.

"I'll Be There" was nominated for the 1993 Grammy Award for Best R&B Performance by a Duo or Group with Vocals and Best R&B Song, losing both categories to Boyz II Men's "End of the Road".

The "I'll Be There" music video, directed by Larry Jordan, was compiled from footage of Carey's MTV Unplugged appearance.

AllMusic editor Shawn M. Haney highlighted it and wrote, "...the power and esteem of these tales lift to new heights and remain at a peak with the breathtaking, moment-making performance of "I'll Be There".

"[33] After the underperformance of "Make It Happen" compared to her previous singles, "I'll Be There" was a return to form for Carey: it became her sixth number-one on the US Billboard Hot 100 and allayed any concerns her record label had about her career in decline.

In 2013, American pianist Arthur Hanlon covered the song in bachata with Dominican guest singer Karlos Rosé as the lead vocalist.