Billboard commented on the track by saying "...'No Lie' recalls Lil Wayne's recent 'She Will' single when Drake steps in to slow things down on the chorus, but 2 Chainz sounds hungrier than his counterpart here, steamrolling over the beat and slinging vicious rhymes. 2 Chainz' voice is silent on the track for about a minute and 40 seconds as Drake struts into focus, and while the Canadian superstar gamely handles his assignment, the listener misses Chainz' urgency until he returns, possessed, for the third verse. Wordplay isn't the MC's strong suit, but it doesn't need to be-his career renaissance can be chalked up as much to his acceptance of his own firecracker energy as his smart selection of beats. No lie: 2 Chainz probably has another hit on his hands."Complex named the song #17 on their list of the best 50 songs of 2012.
The song debuted at number 46 on the Billboard Hot 100 based on digital downloads alone. In its tenth week, the song peaked at number 24. For the week of August 18, 2012, the song reached No. 1 on the Billboard Hot R&B/Hip-Hop Songs chart becoming Drake's 10th No. 1 on the chart. Thus the tie that he had previously possessed with Jay-Z for most No. 1 hits on the chart was broken. After the ascent of "No Lie" to No. 1, Drake now has the most No. 1 hits on the R&B/Hip-Hop songs chart for any rapper in history. The single also reached the summit of the Rap Songs chart, and became Drake's 13th No. 1 hit, thus extending his record for most No. 1 hits on the chart over runner-up Diddy who has ten. As of August 2013, the song has sold 1,400,000 copies in the United States.