The song received mixed reviews from most
music critics. For
Entertainment Weekly, Kyle Anderson praised its "sweet" Mars' hook; with "song of summer written all over it", it "could have been a graduation anthem for stoners everywhere" if it was released in May.
MTV's Jenna Rubenstein gave the song a generally-positive review as more than a "reckless party jam"; the three singers are not bothered by the judgments of others, and "that's the positive, family-friendly message we're taking". In a similar review, Lewis Corner of
Digital Spy praised Dogg's verses and called the single "cool and addictive"; however, he found the song's "flavor" short-lived. In a negative review, Shea Serrano of
LA Weekly compared the track's atmosphere to the "inside of a cloud (smoke), a celebration or idea of what some teenagers who smoke pot would like". Serrano noted, ironically, that the song's performers were neither young, wild nor free. On
AllMusic, David Jeffries wrote that "Young, Wild & Free" had a more contemporary, friendly sound that the rest of the album; the single is "polished, bright and sunshine material". In another album review, Michael Madden of
Consequence of Sound considered it one of the few songs good enough for a soundtrack due to the "smooth pop vocals of Bruno Mars and glitzy Hollywood production".
The A.V. Clubs Chris Martins praised the single's "sharp keys and lite Jackson 5 bounce" in comparison with the other, G-Funk songs on the soundtrack. The song was nominated for
Best Rap Song at the
2013 Grammy Awards and was one of the winners of Most Performed Songs at the 2013
ASCAP Pop Music Awards. According to a
Billboard list measuring a song's "inebriated energy on a scale of one (mildly buzzed) to 10 (totally stoned)", "Young, Wild & Free" received a seven; according to the
Billboard staff, it could be appreciated by "serious stoners" and anyone else because of its playfulness. In a similar list compiled by David Opie, writing for
Highsnobiety, he ranked the song among "The 10 Most Essential Rap Songs About Weed". ==Commercial performance==