"Computer Games Strategy Plus" named "IndyCar Racing II" the best computer racing simulation of 1995. Likewise, "Macworld" presented the game with its 1996 "Best Sports Game" award; the magazine's Steven Levy of the magazine wrote that "this champion of race games has just about everything". It was a runner-up for "Computer Gaming World"s 1995 "Simulation of the Year" award, which ultimately went to "EF2000". The editors wrote that "IndyCar Racing II" "takes the already excellent "IndyCar" design and adds much-improved driver AI".