The album reached No. 1 on both the Pop and Country charts in the US and featured three singles that were not included on any of Rogers' studio albums: "Lady" (written and produced specifically for Rogers by Lionel Richie, which was a No. 1 hit single in the same year), "Love The World Away" (a top five country and top 20 pop hit that was featured on the soundtrack of the 1980 film Urban Cowboy) and "Long Arm of the Law" (a lesser known, but still relatively popular song among Rogers' loyal fan base).
The album features a further nine hit singles from Rogers' career, omitting a number of others (including "Daytime Friends", "Sweet Music Man" and "Love or Something Like It"). This didn't stop the album from being a massive success and confirmed Rogers' status as one of the most best-selling musicians in the US. It remains the best selling compilation release in country music, beating out Garth Brooks' 1994 limited-time-availability release The Hits.
The album is not the only Kenny Rogers release to be called Greatest Hits. In 1971, while with The First Edition, an album under that title was released. Since 1980, many other collections by Rogers have been called Greatest Hits, such as a 1985 Reader's Digest box set and the 1988 collection of his RCA material. However, this 1980 collection on Liberty was the first solo offering by Rogers to be given this designation.
In 1983, when Rogers changed labels to RCA Records, Liberty quickly issued 20 Greatest Hits, a more complete look at Rogers' hit list. However, both albums remained in catalog side by side for over two decades. Also in 1983, HBO re-released the Greatest Hits package on special picture discs. The track listing remained identical to the 1980 US release.