Billy Dukes of Taste of Country gave the song four and a half stars out of five, writing that it "isn’t intended to be the smartest song on the radio, but it might be the most fun." Matt Bjorke of Roughstock gave the song four stars out of five, saying that "the swagger of the melody and McGraw's strong delivery of the lyrics" makes it a hit. Ben Foster of Country Universe gave the song a failing grade, writing that "it sounds dumb and ridiculous upon arrival [...] and then it’s all downhill from there."
"Truck Yeah" debuted at number 22 on the U.S. BillboardHot Country Songs chart for the week of July 21, 2012, becoming McGraw's highest solo chart debut ever. It also debuted at number 69 on the U.S. BillboardHot 100 chart for the week of July 21, 2012. It also debuted at number 52 on the Canadian Hot 100 chart for the week of July 21, 2012.