The film has an approval rating of 94% on the review aggregation website Rotten Tomatoes based on 49 reviews, with a weighted average of 8.28/10. The site's consensus reads: "Well worth watching for film buffs and anyone who believes in following your dreams, "American Movie" is a warm, funny, and engrossing ode to creative passion". Janet Maslin of "The New York Times" wrote that the film conveys Borchardt's passion "Insightfully and stirringly, not to mention hilariously", and that "For anyone wondering where the spirit of maverick independent filmmaking has its source, you need look no further". Roger Ebert gave the film four out of four possible stars, calling the film "a very funny, sometimes very sad documentary".