The album received mixed to positive reviews from music critics and was commercially successful, debuting at number three on the US Billboard 200 chart, selling 120,000 copies in the first week, and eventually being certified platinum by the Recording Industry Association of America (RIAA) in December 2005.

Steve Jones of USA Today found some change in Bow Wow and his music, concluding with "This album doesn't break any new ground but marks the coming of age of a likable artist.

"[8] David Jeffries of AllMusic praised Bow Wow for his charisma throughout the album, despite its B-level beats and that its marketing towards a teen demographic.

"[4] Angie Romero of Vibe highlighted the first two singles off the album but found everything else to be lackluster, saying "The rest of Wanted finds him struggling to carve his niche as a grown rapper minus the Bow Wow bounce.

[9] Matt Jost of RapReviews gave a mixed review, criticizing the generic production from Jermaine Dupri and finding Bow Wow to be unspectacular in the material given to him.