 David Fricke, in his review for the magazine Rolling Stone, considers Imaginos "the best black-plastic blitz to bear the Cult's trademark cross and claw since 1974's Secret Treaties", but remarks that the "lengthy gestation" of the album and the many musicians involved makes it "a bit of a cheat for Cult Purists", and that is "only an illusionary re-creation of the way BÖC used to be". William Ruhlmann of AllMusic wrote that Imaginos is "the album that comes closest to defining Blue Öyster Cult" and their "creative swan song", and "perhaps BÖC's most consistent album, certainly its most uncompromising (...) and also the closest thing to a real heavy-metal statement from a band that never quite fit that description". For Don Kaye of Kerrang!, the album is "the best BÖC slab since (...) Cultösaurus Erectus and harks back in style and attitude towards the brilliance of masterpieces like Secret Treaties and Spectres". A contrary evaluation comes from Blue Öyster Cult biographer Martin Popoff, who has "come to dismiss it as somewhat of a sell-out". Despite it being "the band's heaviest, fulfilling many a fan ’ s wish for sustained metal", Popoff finds "the whole thing perched on the edge of parody, too dressy and fantastical lyrically in a painfully self-conscious way, (...) a laborious exercise in expected weird", ultimately "a baffling yet anticlimactic punctuation to the band ’ s perplexed career". A reviewer from the Italian music criticism site Storia della Musica points out that the album is now a 'cult' item for its rarity, its content and the scarce love shown by the band for this work. He writes that "it could have been the Tommy or The Dark Side of the Moon of BÖC" but, "despite the profound influences it evokes", its "mutilated and sabotaged form" and the disinterest of the musicians involved makes Imaginos only a wasted opportunity.
