Film critic Roger Ebert gave the film a positive review and wrote, "These opening shots are so evocative of Raymond Chandler's immortal Marlowe, archtypical [sic] private eye, haunting the underbelly of Los Angeles, that if we're Chandler fans we hold our breath. Is the ambience going to be maintained, or will this be another campy rip-off? Half an hour into the movie, we relax. Farewell, My Lovely never steps wrong...in the genre itself there hasn't been anything this good since Hollywood was doing Philip Marlowe the first time around. One reason is that Dick Richards, the director, takes his material and character absolutely seriously. He is not uneasy with it, as Robert Altman was when he had Elliott Gould flirt with seriousness in The Long Goodbye. Richards doesn't hedge his bet.[3]
The staff at Variety was more critical of the film, writing, "Farewell, My Lovely is a lethargic, vaguely campy tribute to Hollywood's private eye mellers of the 1940s and to writer Raymond Chandler, whose Philip Marlowe character has inspired a number of features. Despite an impressive production and some firstrate performances, this third version fails to generate much suspense or excitement."[4]
Film critic Dennis Schwartz believes that actor Robert Mitchum was well cast and wrote, "The film's success lies in Mitchum's hard-boiled portrayal of Marlowe, its twisty plot and the moody atmosphere it creates through John A. Alonzo's photography. Los Angeles looms as a nighttime playground for hoods, beautiful women and suckers ready to be taken by all the glitzy signs leading them astray."