"[2][4][5] The lyrics are filled with images of loneliness such as a lonely foghorn, crashing waves and the titular whispering pines.

[1] Allmusic critic Bill Janovitz notes that pines are prevalent in Woodstock, New York, where the Band was living, and in Canada, where most of the group is originally from.

[1] According to music critic Barney Hoskyns, "the lyric that Robbie worked around Richard's vocal lines was one of the most beautiful he ever wrote, a song of intense loneliness set beside an ocean that seemed to symbolize the singer's endless sense of loss.

"[2][4][5] According to Band manager Joe Forno, Manuel had written the melody on a piano that had one key which was out of tune.

[2] Despite the sad imagery, Hoskins hears resolution and peace in the music, and notes that the last words of the song state that "the lost are found.

"[9] Author George Case likewise wrote that "Whispering Pines" is "one of the most haunting ballads in rock 'n' roll.

[16] Jakob Dylan and Lizz Wright covered "Whispering Pines" on Endless Highway: The Music of The Band.