According to the song's composer Jeff Lynne "This song is where the dreamer wakes up to reality, then decides he likes his dream world better and tries to get back to Eldorado." - Eldorado (remastered) liner notes by Jeff Lynne, 2001
The title track gained a certain notoriety when it was claimed by some Christian Fundamentalists that "Eldorado" contained some "satanic messages." Purportedly, the line in the song that went "Here it comes, another lonely day; Playing the game. I'll sail away; On a voyage of no return to see" was claimed to sound something like "He is the nasty one - Christ you're infernal - It is said we're dead men - Everyone who has the mark will live" when played backwards. Lynne denied these allegations, then further asserted his point to his accusers — in his typical tongue-in-cheek manner — by inserting an obviously and deliberately backmasked segment into ELO's next album (Face the Music), within the opening portions of the famous "Fire On High" track. He further satirized it by releasing an entire album strewn with backmasking.