The song's chorus interpolates the Ronettes' 1963 hit "Be My Baby", with original vocalist Ronnie Spector providing uncredited vocals and reprising her role.

Songwriting credit was given to Mike Leeson, Peter Vale, Ellie Greenwich, Phil Spector and Jeff Barry.

"[7] Money invited his friend Martha Davis, lead vocalist of The Motels, to rerecord the lines from "Be My Baby" for "Take Me Home Tonight".

[10] The video was directed by Nick Morris and shot entirely in black and white at the Lawlor Events Center in Reno, Nevada.

He sings and plays an alto saxophone to an absent audience, while Ronnie Spector is seen in a make-up room and then walking through a backstage hallway to the arena floor during cutaways.

"[12] The song was nominated for Best Male Rock Vocal Performance at the 29th Annual Grammy Awards on February 24, 1987, but lost to Robert Palmer's "Addicted to Love".

The song was sampled and interpolated by New Zealand rapper PNC in "Take Me Home" featuring Mz J from the album Bazooka Kid.