It received positive reviews upon release, with many critics welcoming the series' return and the upgraded visuals, as well as the preservation of its ubiquitous techno soundtrack.

[12] In 2015, Sony Worldwide Studios President Shuhei Yoshida hinted towards a possible Wipeout title for the PlayStation 4, saying that the company would like to "balance" the number of games in their franchises.

[13] The following year Nick Burcombe, co-creator of the original Wipeout, affirmed that enthusiasm towards developing a new instalment remained high among his team, should Sony decide to commission one.

When asked about the potential revival of the Wipeout brand, Burcombe commented that any new title would be wholly contingent on demand and Sony's willingness to relinquish the franchise.

[14] Wipeout Omega Collection was formally announced by Sony Interactive Entertainment during the annual PlayStation Experience expo on 4 December 2016, with a slated release date in the summer of 2017.

[27] GameSpot's Miguel Concepcion asserted that game was Wipeout "in its prettiest form", commenting that the visual fidelity of HD and 2048 demonstrated that it was not merely a direct port.

[22] David Meikleham of GamesRadar+ likewise praised its "pristine" 4K visuals and heralded the compilation as a perfect illustrator for HDR gaming.

Devore opined that certain long-time players of the franchise may feel fatigued over the tracks that have been used repeatedly over the years, but nevertheless thought the overall experience was entertaining in its own right.

[27] Concepcion praised the compilation's consistent gameplay and its gradual progression in difficulty,[22] while Meikleham felt that the Omega Collection's recycled content did not matter in light of its quantity.

[24] Kamen enjoyed the combined elements of 2048's campaign progression system and HD's more "down to earth" tournament structure, noting that both games contributed to an overall "smoothly" integrated experience.