The song, which peaked at number four on the US Billboard Hot 100, was included on Bolton's seventh album, Time, Love & Tenderness (1991), and released in April 1991 by Columbia.

The accompanying music video for "Love Is a Wonderful Thing" was directed by Dominic Sena and shot in Phoenix, Arizona.

The song was not included on an album until it appeared on The Isley Brothers - The Complete UA Sessions, which was released in 1991.

On February 24, 1992, the Isley Brothers filed a lawsuit for copyright infringement against Bolton, Goldmark and Sony Music Publishing.

"Aside from the fact that they have the same title, and the melody begins on the third note of the scale, the two songs bear no resemblance in any significant musical way.

Bolton's attorneys, including Harvard University law professor Alan Dershowitz, had asked the Supreme Court to reject the findings, arguing a national standard should be created to help guide artists and the courts as to what classifies as copyright infringement.

The Recording Industry Association of America (RIAA) agreed, and filed a brief with the Supreme Court supporting Bolton in his appeal.