On review aggregator Rotten Tomatoes, the film has an approval rating of 88% based on 50 reviews, with an average rating of 7.79/10. The website's critical consensus reads, "F for Fake playfully poses intriguing questions while proving that even Orson Welles' minor works contain their share of masterful moments." In July 2021, the film was shown in the Cannes Classics section at the 2021 Cannes Film Festival.