The song paraphrases the opening lines of the "All the world's a stage" speech from William Shakespeare's play As You Like It.

"Limelight" was one of five Rush songs inducted into the Canadian Songwriters Hall of Fame on March 28, 2010.

[3] In "Limelight", lyricist Neil Peart comments on the band's commercial success and the fame and its demands that come with rock star status.

[7] Lifeson's guitar solo was performed on what he called a "Hentor Sportscaster", a modified Fender Stratocaster equipped with a Floyd Rose vibrato arm.

Critics frequently point out Lifeson's use of vibrato in the solo,[8] with Max Mobley writing that it "is dripping with Floyd Rose whammy".

[9] "Limelight" has been described as Lifeson's "signature song",[10] and critics cite the influence of Allan Holdsworth.