The lyrics concern an unfaithful girl who will pay the price for her deceitful ways. The lines "One of these days and it won't be long / You'll look for me but baby I'll be gone" quote the Ray Charles song "I Believe to My Soul", demonstrating Robert Plant's affinity for rhythm and blues.
Jimmy Page performed "Your Time Is Gonna Come" on his tour with The Black Crowes in 1999. A version of the song performed by Page and The Black Crowes is on the album Live at the Greek.
Slash, the former lead guitarist of Guns N' Roses, has said that "Your Time Is Gonna Come" is his favourite Led Zeppelin song. Record producer Rick Rubin has remarked, "It's like the drums are playing a big rock song and the guitars are playing a gentle folk song. And it's got one of the most upbeat choruses of any Zeppelin song, even though the words are so dark."