Segundo Romance received positive reviews from music critics, who praised its production, Luis Miguel's vocals and the choice of songs.

By 1995, Segundo Romance had sold over 4.5 million copies and achieved multi-platinum status in many Latin American countries and Spain, and was certified platinum in the United States.

In 1991, Luis Miguel released his eighth studio album, Romance, a collection of classic boleros (slow ballads "endowed with romantic lyrics").

[6] Four months after the release of Aries, he confirmed that he would begin recording another collection of classic boleros in March 1994, with the working title Romance II.

[21][22] Its music video was directed by Kiko Guerrero and filmed at the Palacio de Bellas Artes in Mexico City with Luis Miguel and a 36-piece orchestra.

[25] Its music video, directed by Pedro Torres and filmed in black-and-white, features Luis Miguel reminiscing at a bar about a woman who deceived him.

[21][28] To promote the album, Luis Miguel began his Segundo Romance Tour in August 1994 with 16 shows at the National Auditorium in Mexico City, which drew a total audience of more than 155,000.

[33] In October 1995, Warner Music released the El Concierto live album and video, a compilation of Luis Miguel's performances at the National Auditorium in Mexico City and his concert at the José Amalfitani Stadium in Buenos Aires.

[35] AllMusic critic Jose F. Promis gave Segundo Romance four-and-a-half stars out of five, calling it "a first-rate collection of timeless Latin American standards" and praised Luis Miguel's vocals and the production.

"[1] Enrique Lopetegui of the Los Angeles Times gave the album three stars out of four, saying that it contained "updated, well-produced versions of classic romantic bolero and tango songs".

[36] In Americas magazine, Mark Holston described Segundo Romance as a "superb encore", citing "El Día Que Me Quieras" and "Historia de un Amor" as "memorable songs".

[17] Tarradell criticized Luis Miguel's vocals being "on autopilot" compared to his "rich, sophisticated hues" on Romance and called the singer's production a "bad idea".

[17] In Argentina, Luis Miguel received the Asociación de Cronistas del Espectáculo award for Latin Ballad Album by a Male Solo Artist in 1994.

[2] According to Enrique Lopetegui of the Los Angeles Times, both albums "created a revival for the bolero – the old-fashioned, string-based romantic messages of unrequited love were embraced even by young listeners".