Certified gold in the US, it went platinum in the UK where four singles reached the top 20; "Tears Are Not Enough", "Poison Arrow", "The Look of Love" and "All of My Heart", which Pitchfork ranked number one on their "Now That's What I Call New Pop!"

"Tears Are Not Enough" (in its initial release produced by Steve Brown), "All of My Heart", "Poison Arrow" and "The Look of Love" were all top-20 entries in the UK; the latter two also charted in the US, peaking at No.

[17] In 2004, a two-disc deluxe reissue including previously unreleased outtakes and early demos and a live performance of the album from 1982 was released by Neutron Records.

In 2009, ABC (with Fry as its sole member) performed the entire album at the Royal Albert Hall in London, accompanied by the BBC Concert Orchestra and conducted by Dudley.

[17] Mitchell Cohen of Creem contemporaneously declared it to be a "piece of sumptuous kitsch", adding that "the whole shebang is so florid, so exaggerated, so damned catchy – you want to hear "The Look of Love" a second time before it's even half over; it's a casserole of about forty different pop hits and advertising jingles – that you may feel guilty for falling for it.

"[33] Robert Christgau gave the album an "A–" rating, writing that "Martin Fry's candid camp and ad-man phrasing don't fully justify his histrionic flights, but they do give him room to be clever, which is clearly his calling--some of these synthetic funk rhythms make me laugh out loud, and he's an ace jingle writer".

[26] Don Waller of the Los Angeles Times praised the album, stating that Horn "deserves a share of the applause, but the songs – credited to all four ABC members – are the real deal: apocalyptic, widescreen romances with more hooks than a meat-packing plant."

[34] Ken Tucker of The Philadelphia Inquirer was less enthusiastic, dismissing the album as "prissy dance music, light on the beat and heavy on the sort of maundering crooning that the effete English rock musicians frequently mistake for passion.

The site praised the band for "[using] the sound to create moving dance-floor epics like "Many Happy Returns" which, like most of the album's tracks, deserved to be a hit single.

"[24] In a BBC review of the 2004 Deluxe Edition, Rob Webb stated that "The Lexicon of Love stands as a landmark album in British pop", and "underpins just what a sharp band ABC were: witty, lyrical and very, very funky".

He found each song to be "a love affair in miniature: some are touching ("All of My Heart", "Show Me"), others a bitter invective at misplaced passion ("Many Happy Returns")", and concluded that "[dance] music had rarely been so literate.

"[36] In a review of a 2005 retrospective of Trevor Horn's work, Pitchfork concluded: "If you don't already own the original records, all can be found cheap and all (especially ABC's Lexicon of Love) are essential documents of their era".