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The film was released in the United Kingdom on 9 January 2009, and opened at #2 at the UK box office. The film expanded into wide release on 25 December 2008 at 614 theatres and earned $5,647,007 over the extended Christmas weekend. After debuting on a Wednesday, the film grossed $360,018 in 10 theatres in its first weekend, a strong average of $36,002 per theatre. It also screened at the Toronto International Film Festival on 7 September 2008, where it was the festival’s “first widely acknowledged popular success”, winning the People’s Choice Award.

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In 2025, it was one of the films voted for the “Readers’ Choice” edition of The New York Times’ list of “The 100 Best Movies of the 21st Century,” finishing at number 163. In 2010, the Independent Film & Television Alliance selected the film as one of the 30 Most Significant Independent Films of the last 30 years. The film also won seven of the eleven BAFTA Awards for which it was nominated, including Best Film; all four of the Golden Globe Awards for which it was nominated, including Best Drama Film; and five of the six Critics’ Choice Awards for which it was nominated. At the same time, Taare Zameen Par (Like Stars on Earth), India’s submission for the Academy Award for Best Foreign Film, failed to make the short list of nominations and was frequently compared with Slumdog Millionaire in the Indian media.

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On 22 February 2009, the film won eight out of ten Academy Awards for which it was nominated, including Best Picture and Best Director. It was announced on November 1, 2024, that a musical adaptation of the film is in the works. The site’s critical consensus reads, “Visually dazzling and emotionally resonant, Slumdog Millionaire is a film that’s both entertaining and powerful.” On Metacritic, 36 critics gave the film an average score of 84 out of 100, indicating “universal acclaim”.

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