[20] In a retrospective review of the Neo Geo AES version, AllGame's Kyle Knight called it "a fairly good fighter that could've been a lot more.

Shawn Smith and Ken Williams remarked that the game's mediocrity is shocking given SNK's history and the $150 price tag.

[14] MAN!AC's Andreas Knauf felt mixed in regards to the audiovisual presentation and Samurai Shodown-style character roster but criticized the jerky animations and lack of innovations.

[16] In contrast, Nintendo Life's Corbie Dillard regarded Ninja Master's as one of the more unique fighting games released on Neo Geo stating due to the ability to change between two fighting styles, stating that "at times it feels like a combination of Samurai Shodown and King of Fighters rolled into one game.

"[18] Ken Pyle of Manci Games praised the feudal-Japan- atmosphere, fast gameplay and responsive controls but felt mixed in regards to the character roster and criticized the audio design.