The composition, with its free-form peaceful melody and timeless, meditational quality, has featured in numerous soundtracks of films and music in ballet choreography and has been recorded by fellow jazz musicians.
It can be heard in Bo Widerberg's Love 65 (1965), Gaurav Seth's A Passage to Ottawa, Philip Seymour Hoffman's Jack Goes Boating (2010), and Dan Gilroy's Roman J. Israel, Esq.
It is an ostinato piece, composed and recorded long before the more recent superficial synthesis of Indian and American music; in fact, it owes more to Satie and Debussy than to Ravi Shankar.
American jazz musician and YouTuber Charles Cornell notes that Bill Evans may have been influenced by Erik Satie's Vexations.
In 2003, text art collective Young-Hae Chang Heavy Industries used "Peace Piece" in 0PERATI0N NUK0REA, a fictional story about the nuclear destruction of Seoul in a future war between South and North Korea.