"Oscar" received mixed reviews from critics upon release. Dave Kehr of the "Chicago Tribune" wrote, "Landis does his best to give the material a cartoonlike rhythm and stylized sense of movement ... but the labored, repetitive screenplay, by Michael Barrie and Jim Mulholland, defeats him." He continued, "For a film meant to define a lighter and fresher image for Stallone, "Oscar" doesn't quite get the job done." Owen Gleiberman of "Entertainment Weekly" gave the film a grade of "D+", writing: "Director John Landis executes the mechanics of farce without a trace of the speed or effervescence this material demands. Every chuckle feels engineered."