Eduardo Rivadavia at AllMusic gave No Exit four stars out of five, saying "Usually regarded as the finest release from Fates Warning's early years, when their progressive leanings were tempered with no small amount of classic metal riffing, No Exit is a typically difficult album to come to grips with." The album reached No. 111 on the U.S. Billboard 200 and remained on that chart for thirteen weeks, longer than any of the band's previous albums. In a 2007 article by IGN, it was ranked No. 14 on their list of "Top 25 Metal Albums".