Jason Lymangrover of AllMusic gave T.I.M.E. Soundtrack 4.5 stars out of 5, calling it "[Odd Nosdam's] most polished, tightest work." Ian Cohen of Pitchfork Media said: "While it's easy to imagine people pulling killer kick flips or whatever in your mind's eye while the album is playing, the music itself has enough forthrightness and inventiveness to be one of the year's most enjoyable, if low-key, surprises."
T.I.M.E. Soundtrack reached number 19 on the Dusted Top 40 Radio Chart on March 4, 2009.