Since its release, "That's How You Know" has been met with critical acclaim from critics and audiences alike, with many calling it the best number in the whole film. The song was nominated for Best Song at the 13th Critics' Choice Awards, Best Original Song at the 65th Golden Globe Awards, and at the 80th Academy Awards in the Best Original Song category, in which two other songs from the film were also nominated. It was also nominated at the 51st Grammy Awards in the category of Best Song Written for Motion Picture, Television or Other Visual Media.