One reviewer suggested the song was written after "a brief and painful affair" with actress Hermione Farthingale. While on tour in 1990, Bowie introduced the song by saying "You fall in love, you write a love song. This is a love song."
In a 2012 poll, "Life on Mars?" was voted Bowie's best song.
In 1974, Barbra Streisand released a version of the song on her album ButterFly. In a 1976 Playboy interview, Bowie was asked what he thought of her cover: "Bloody awful. Sorry, Barb, but it was atrocious."
The song, with piano by Rick Wakeman, has been described by BBC Radio 2 as "a cross between a Broadway musical and a Salvador Dalí painting."
When released as a single in 1973, it reached number three in the UK Singles Chart and stayed on the chart for thirteen weeks.