[1] Produced by Trackmasters, with some uncredited input by Rashad Smith, it is based on the 1985 hit of the same name by American rapper Kurtis Blow and samples the beat of "Friends" by Whodini.

[2][3] In June 2021, "If I Ruled the World" was certified Platinum by the Recording Industry Association of America, becoming Nas' first single to achieve this.

"[6] Daisy & Havoc from Music Week's RM Dance Update rated it five out of five, commenting, "This one should do well right now for a handful of reasons — it features Lauryn Hill from Fugees, it's not dissimilar to Fugees and, most importantly of all, it's a really appealing track with an addictive chorus, some great vocals and a laid-back but still serious rap.

"[7] David Fricke from Rolling Stone wrote that "New Yorker Nas beat hip-hop's sophomore jinx with the jaunty step and dead-sexy female chorus of 'If I Ruled the World', this summer's cruisin' smash."

Nas and Lauryn Hill performed the song live at the 1996 MTV Video Music Awards on September 4, 1996.