In a 1996 reader poll conducted by "Arcane" magazine to determine the 50 most popular roleplaying games of all time, "The Palladium Fantasy RPG" was ranked 26th. Editor Paul Pettengale commented: "Well, the rules are almost identical to those in "Palladium's Rifts" roleplaying system, and as such it's well suited to existing players of that game, who will have little to learn. Even newcomers should have little difficulty with "The Palladium Fantasy RPG", though. The rules lie somewhere between "AD&D" and "Rolemaster" in complexity, and combine character classes with a simple skills system. A good alternative to the better known Fantasy RPGs."