All of the songs on Priest...Live! were recorded on their 1986 Fuel for Life tour which supported the album Turbo. There were no tracks from their 1970s albums, though the 2001 remastered version did contain "Hell Bent for Leather" as a bonus track. While it may have sounded more "live" than Unleashed in the East, Priest...Live! did not sell as well as that album. However, the RIAA certified it Gold in October 2001.
The album was first released on 21 June 1987 as a 2-LP set in a gatefold sleeve with artwork inners. It was re-released as part of the 2001 'The Re-Masters' series and includes three live bonus tracks.
The live video was recorded in its entirety at the Reunion Arena in Dallas on 27 June 1986, and was released on VHS and LaserDisc in 1987. The video includes the songs "Locked In", "Desert Plains", "The Green Manalishi (With the Two-Pronged Crown)" and "Hell Bent for Leather", which were left off the original vinyl/cassette/CD release, and was certified Gold in February 1988. The video for this concert was featured on the Judas Priest DVDElectric Eye in 2003.