Upon its release Dreamchasers received generally positive reviews from music critics. Jordan Sargent of Pitchfork Media gave the mixtape a 7.4 out of 10, saying "There are plenty of mid-tier rappers willing to merely ride out Lex Luger's wave, but Meek has enough dimensions to be in it for the long haul." Carl Chery of XXL gave the mixtape an XL, saying "Calling Dreamchasers a classic may be a bit of a stretch, but it undoubtedly precipitates anticipation for Meek’s eventual debut." Edwin Ortiz of HipHopDX gave the mixtape a positive review, saying "Dream Chasers is an extension of what Meek Mill solidified on Self Made Vol. 1: a young hungry emcee who has found the right supporting cast to push his brand of Rap. In any case, Meek Mill should have changed the title of this project, because frankly it seems like his dreams are fast becoming reality."