The song received acclaim from both critics and listeners, who praised the song, calling it "her boldest release yet".
Grazia described the song as "enshrining her place" as a musical force to be reckoned with and taken seriously. The song was also compared to the works of
Madonna,
Kylie Minogue, and
Britney Spears. while
Billboards Jason Lipshutz wrote Rae's "pop aesthetic is coming into focus" describing it as "dextracting the breathy flirtations from previous single 'Diet Pepsi' and applying them to a sleek, futuristic dance-pop sheen." Gabriel Saulog of
Billboard Philippines wrote that the song embraces and breathes new life into its "
'90s Eurodance influences –– complete with twinkling synth elements, steady club beats, and Rae's soft yet dreamy vocals that evoke a sensual (if provocative) nature" noting that its reminiscent of Madonna's
Ray of Light (1998) and "rightfully" solidifies "her status as a rising figure in today's pop landscape." Michael Kearney of
Earmilk praised Rae's "refreshing and bold" sound, writing that "Aquamarine" is a "sparkling, dance-driven track that blends sensual, aquatic themes over a sweeping
four-on-the-floor beat," comparing its "nostalgic 90s-inspired synths" specifically to Madonna's "
Nothing Really Matters" (1999) and Spears' "
Breathe on Me" (2003). Spanos described "Aquamarine" as "dazzling and hypnotic" while commenting on Rae's reinvention as an artist: "She aligned herself with the music and fashion world's most beloved
avant-gardists — Charli,
Arca,
Rosalía,
Petra Collins,
Interview Magazines
Mel Ottenberg and Dara Allen — who helped bring her vision to life everywhere from music videos to remixes to surprise performances at
Madison Square Garden." English singer-songwriter Charli XCX praised the song online, calling Rae a "musical genius". It polled at number 132 in the
Triple J Hottest 100 of 2024. ==Music video==