It received minimal commercial attention at the time of its release, but has since garnered retrospective critical praise for Ras Kass' complex, historically-aware lyricism.

[5] The album's title was inspired by Black Panther member Eldridge Cleaver's 1968 book Soul on Ice, from which Ras Kass formed many of his lyrical themes.

[1][8] Will Ashon of Muzik praised Soul on Ice as "a powerful journey through Ras' life, grounded in a historical-political-theological analysis of the plight of the black race", concluding that it was "post-encyclopedia-black-power-lyricism".

[9] Carlito Rodriguez of The Source commended Ras Kass' lyricism, stating that he "drops material that'll have history buffs, religious theorists and English majors alike either reaching for their reference books or bustin' off in their Fruit of the Looms".

[11] In a retrospective piece, Stylus Magazine critic Brett Berliner noted that several years into Ras Kass' career, "he still hasn't matched the awe and skill of Soul on Ice", hailing it as "one of the most next level albums of all time, lyrically".