Allmusic's Ned Raggett said the song "blended a tight, guitar-heavy groove with electronic production and a series of instant hooks," adding that it was one of "Rio"'s "biggest smashes" that "open the door in America for the New Romantic/synth rock crossover." Stewart Mason, also from Allmusic, called "Hungry Like the Wolf" a "spectacular pop single", and "the finest song Duran Duran ever wrote", adding that it was a "much more kinetic and exciting song than earlier flop singles like 'Planet Earth'."