Upon its release, Jerry Smith of Music Week described "Me and My Foolish Heart" as a "polished pop tune" which "drives along, helped by a dynamic production and a strong vocal that is well underpinned by dramatic piano". He added that it "could well be an unexpected hit if given the necessary exposure". Music & Media picked the song as one of their "records of the week" in their issue of 26 April 1986 and commented, "It is a highly polished and soaring melody in the Fiction Factory/OMD-trail that is sure to pick up good airplay."
