Latest and Greatest was released on March 31, 1998 on Platinum Entertainment. It was Anderson's 32nd studio recording in her career and only her second studio effort of the decade. The album was offered as a compact disc and an audio cassette. It was later released to digital retailers. Latest and Greatest was reviewed positively by Allmusic in their original review of the album. Reviewers took note of the maturity in Anderson's voice since her early hits, comparing it to that of Mary Chapin Carpenter and K.T. Oslin. "Many of these re-recorded hits benefit from Anderson's slightly darker vocals; the contemporary production here makes the originals sound vaguely quaint," writers commented.
