Since its release, "Ziggy Stardust" has received widespread acclaim from music critics, with the majority praising its story, guitar riff and the band's performance.

The song was covered by the English gothic rock band Bauhaus in 1982; their version peaked at number 15 on the UK Singles Chart.

[1] According to biographer Nicholas Pegg, it was registered with Bowie's publisher Chrysalis as early as April 1971, before the recording sessions for Hunky Dory (1971).

Musically, it is a glam rock song, like its parent album,[6] that is based around a riff containing both tonic and dominant chords (the latter with a "hammered 4th"), followed by a "shifting-bass run" from C to A minor, thereby going back to the root.

A second electric guitar riff, inspired by the American rock band the Byrds, what Doggett calls a "jingle-jangle", is also present but almost buried in the mix.

[7] Richard Cromelin of Rolling Stone notes the "faint ring" of 1970's The Man Who Sold the World on the track—"stately, measured, fuzzily electric.

"[9] Bowie begins his vocals, which Doggett describes "like a meteor from a distant galaxy", with "the phrase that defines his hero: 'Ziggy played guitar'.

"[10] The song describes Bowie's alter ego Ziggy Stardust, a rock star who acts as a messenger for extraterrestrial beings.

"[7] He plays guitar "left hand", which Doggett and Pegg believe is inspired by American guitarist Jimi Hendrix, along with the lines "jiving us that we were voodoo" and "killed" by "the kids".

[2][7] Ziggy is "well-hung" and has a "snow-white tan", which Pegg believes suggests the "coked-up sexuality of Iggy Pop's stage persona.

[2][7] Doggett notes the similarity between the story of Jesus and Ziggy: the story of Jesus ended in death, and is followed by "a mysterious afterlife, acolytes, skeptics, and all the other paraphernalia associated with the premature demise of modern-day icons", mentioning the likes of Marilyn Monroe, James Dean, Hendrix, Elvis Presley, John Lennon and Kurt Cobain.

[10] According to Pegg, the line "making love with his ego" most likely refers to Jim Morrison and Mick Jagger, but believes "the list of applicants is still growing.

[2] This version was accompanied by a video compiled from live footage shot at Dunstable Civic Hall on 21 June 1972 which, according to Pegg, offers "fascinating glimpses of an early Ziggy show in action.

[28][29][30] Since its release, "Ziggy Stardust" has received widespread acclaim from music critics, with the majority praising its story, guitar riff and the band's performance.

In a review for Ziggy Stardust on release, Richard Cromelin of Rolling Stone praised Bowie's imagery and storytelling, calling it some of his most "adventuresome" up to that point.

Raggett described the band's performance as "crisp and explosive" praising Ronson's guitar work, believing his riffs and their distortion could "signal ... where rock could go as any of Hendrix's big hits."

"[33] Ian Fortnam of Classic Rock ranked every track on the album from worst to best placing the song at number four, praising its storytelling, Ronson's guitar work and Bowie's vocal performance.

[65] According to AllMusic's Dave Thompson, the band were "killing some downtime" at Trident Studios in London when members Haskins and Daniel Ash began an impromptu jam of "Ziggy Stardust" as a "joking tribute" to "the artist with whom virtually every critic in the land had now compared Bauhaus."

Tapes were running and once they heard the track, they were "absolutely enthralled" and decided to include it during their upcoming BBC session for John Peel.

[67][69][70] The B-side was a cover of English musician Brian Eno's "Third Uncle", from his 1974 album Taking Tiger Mountain (By Strategy), which was recorded at the same radio session as "Ziggy Stardust".