It is a collection of solo-guitar arrangements of familiar Christmas songs and has been Fahey's best selling recording, remaining in print since it was first released.

The album is especially noteworthy since holiday music had never before been played in Fahey's acoustic-steel string blues guitar style.

As Fahey recounts, "I was in the back of a record store in July and I saw all these cartons of Bing Crosby's White Christmas albums.

[1] Fahey's original liner notes discuss the German-American theologian and Christian existentialist philosopher Paul Tillich's reference to the birth of Jesus Christ as "The New Possibility".

A 2000 CD reissue of The New Possibility includes the entire contents of both that album and Christmas with John Fahey Vol.

II - critic Andrew Male wrote "This beautiful collection of the American steel-string guitarist’s festive efforts, from 1968 and 1975, possesses a deliciously deep and spooky ambience, a disjointed jauntiness coupled with a frost-fall morning melancholy, Fahey’s guitar somehow sounding like an Elizabethan harpsichord grown wild and mad out in the Appalachian mountains."