John Wetton explained the album title: "The title 'Omega', as any fan of the band will tell you, is 'very Asia' (as is the album, by the way). It no more means 'final' than 'Alpha' means 'the first' (which it wasn't). It's a great sounding/looking word, and a bookend to 'Alpha'. In many ways, musically and conceptually, the two albums share commonality".
Bret Adams of Allmusic, in a three-and-a-half-star review, concluded that "Phoenix has better songs overall than Omega – probably due to the initial excitement and creative surge spawned by the reunion – but Omega satisfies, and longtime fans will enjoy it", and called the album "Asia being Asia".
Omega was named as the seventh-best album of 2010 by Classic Rock Presents... Prog magazine.