The song is a folk rock ballad that variously takes the form of a first-person lament as well as a third-person sketch of a boxer.

The lyrics are largely autobiographical and partially inspired by the Bible and were written during a time when Simon felt he was being unfairly criticized.

It performed well internationally, charting within the top 10 in nine countries, peaking highest in the Netherlands, Austria, South Africa, and Canada.

[1] The version originally released by the duo features an instrumental melody played in unison on pedal steel guitar by Curly Chalker and piccolo trumpet.

The song also features a bass harmonica, played by Charlie McCoy,[2] heard during the second and final verses.

In a 2008 edition of Fretboard Journal, [3] Fred Carter Jr. recounts to interviewer Rich Kienzle: I had a baby Martin, which is a 000-18, and when we started the record in New York with Roy Halee, the engineer, and Paul [Simon] was playin' his Martin—I think it's a D-18 and he was tuned regular—he didn't have the song totally written lyrically, but he had most of the melody.

I thought: That’s the greatest record I heard in my life, especially after the scrutiny and after all the time they spent on it and breakin’ it apart musically and soundwise and all of it.

The song's lyrics take the form of a first-person lament, as the singer describes his struggles to overcome loneliness and poverty in New York City.

The final verse switches to a third-person sketch of a boxer: "In the clearing stands a boxer and a fighter by his trade, and he carries the reminders of every glove that laid him down or cut him till he cried out in his anger and his shame, 'I am leaving, I am leaving,' but the fighter still remains.

But, it's not a failure of songwriting, because people like that and they put enough meaning into it, and the rest of the song has enough power and emotion, I guess, to make it go, so it's all right.

[7] Biographer Marc Eliot wrote in Paul Simon: A Life, "In hindsight, this seems utterly nonsensical.

"[7] Bob Dylan, in turn, covered the song on his Self Portrait album, replacing the word "glove" with "blow".

Simon told the audience that she removed the words "the whores" and altered the song to say, "I get no offers, just a come-on from toy stores on Seventh Avenue."

"[10] On June 3, 2016, at his concert in Berkeley, California, Paul Simon again stopped singing partway through "The Boxer", this time to announce, in one sentence, breaking news: "I’m sorry to tell you this in this way, but Muhammad Ali passed away."

On March 30, 2020, Simon released a YouTube version dedicated to fellow New Yorkers during the coronavirus pandemic including this verse.

[12] Upon the release of "The Boxer" as a single, Cash Box described it as a "spectacular side" and said, "First half of the ballad is in the haunting S&G folk style, but the production touches increase to build this track into a heavy fading 'Jude-ish' closer.

"[13] Billboard said that Simon and Garfunkel have "a sure fire chart topper in this infectious rhythm ballad with a compelling lyric line.

Cover versions of the song have been recorded by numerous artists, including Me First and the Gimme Gimmes, Bob Dylan, Neil Diamond, Emmylou Harris, The Samples, Leandro e Leonardo, Paula Fernandes, Tommy Fleming, The Celtic Tenors, Bruce Hornsby, Cake, Jonne Järvelä, Waylon Jennings, and Jess & Matt.

[42] In 2007, Simon was awarded the inaugural Gershwin Prize by the Library of Congress; Jerry Douglas, Shawn Colvin, and Alison Krauss performed "The Boxer" live.

[43][44] Also in 2007, country music artist Deana Carter released a cover of the song on her sixth studio album, The Chain, which was recorded as a duet with Harper Simon.