PlayStation LifeStyle's Tyler Treese awarded the game a 8/10 and had this to say in their review:
"Despite closing weaker than it starts, there's a lot to like about Matterfall's unique blend of platforming and shooting. It's great to see Housemarque trying something new, and besides some tricky controls, they nail most of their ideas flawlessly. PlayStation 4 owners can safely rack this up as yet another Housemarque gem."
IGN's Mitchell Saltzman awarded the game a 7/10 and had this to say in their review:
"Matterfall succeeds in adapting Housemarque's trademark style of fast, action-packed, arcadey action to the 2D platformer genre, but it feels like a puzzle half solved. There's virtually no content here after you finish its exceptionally short campaign, outside of some harder difficulty modes and a global leaderboard to climb, and its level design isn't well-suited for replay value. It's a ton of fun while it lasts, but once it's over it's hard to not be left with a feeling of “Is that it?”"
GameSpot's Jeremy Winslow awarded the game a 6/10 and had this to say in their review:
"At first it's great to engage with Housemarque's tried-and-tested designs again, but Matterfall never manages to build off of its promising foundation, and it even mishandles one of the studio's longest-standing mechanics: dashing. There is still some fun to be had, and it's easy to appreciate the technical artistry on display, but factor in inconsistent controls and long load times, and it's easy to grow frustrated throughout the Matterfall's short campaign."
Eurogamer's Martin Robinson had this to say in their review:
"Still, this is a fine Housemarque game, and a decent shooter on its own merits. There's a personality and character to the developer's games that you can't find anywhere else, and given how Sony's moving away from its former indie darlings (the arrival of Matterfall, a PS4 exclusive, has been met with a disheartening lack of fanfare) there's a very real danger that games like this might soon go the way of their inspirations. This is a way off being Housemarque's best effort - you only have to look back a few weeks to Nex Machina to see what it's capable of when firing on all cylinders - but it's still an enjoyable reminder of this developer's exquisite craft."
The OpenCritic average for the game is a 78/100.