Critical response
On review aggregator Rotten Tomatoes, There Will Be Blood has an approval rating of 91% based on 245 reviews, with an average rating of 8.8/10. The website's critical consensus reads, "Widely touted as a masterpiece, this sparse and sprawling epic about the underhanded 'heroes' of capitalism boasts incredible performances by leads Daniel Day-Lewis and Paul Dano, and is director Paul Thomas Anderson's best work to date."
On Metacritic, the film has a weighted average score of 93 out of 100, based on 42 critics, indicating "universal acclaim".
Andrew Sarris called the film "an impressive achievement in its confident expertness in rendering the simulated realities of a bygone time and place, largely with an inspired use of regional amateur actors and extras with all the right moves and sounds." In Premiere, Glenn Kenny praised Day-Lewis's performance: "Once his Plainview takes wing, the relentless focus of the performance makes the character unique." Manohla Dargis wrote, in her review for The New York Times, "the film is above all a consummate work of art, one that transcends the historically fraught context of its making, and its pleasures are unapologetically aesthetic."
Esquire praised Day-Lewis's performance: "what's most fun, albeit in a frightening way, is watching this greedmeister become more and more unhinged as he locks horns with Eli Sunday ... both Anderson and Day-Lewis go for broke. But it's a pleasure to be reminded, if only once every four years, that subtlety can be overrated." Richard Schickel in Time praised There Will Be Blood as "one of the most wholly original American movies ever made." Critic Tom Charity, writing about CNN's ten-best films list, calls the film the only "flat-out masterpiece" of 2007.
Schickel also named the film one of the Top 10 Movies of 2007, ranking it at No. 9, calling Daniel Day-Lewis's performance "astonishing", and calling the film "a mesmerizing meditation on the American spirit in all its maddening ambiguities: mean and noble, angry and secretive, hypocritical and more than a little insane in its aspirations." James Christopher, chief film critic for The Times, published a list in April 2008 of his top 100 films, placing There Will Be Blood in second place, behind only Casablanca.
Some critics were positive toward the work but less laudatory, often criticizing its ending. Mick LaSalle of the San Francisco Chronicle, challenged the film's high praise by saying "there should be no need to pretend There Will Be Blood is a masterpiece just because Anderson sincerely tried to make it one" and noting that "the scenes between Day-Lewis and Dano ultimately degenerate into a ridiculous burlesque." Several months after LaSalle's initial review of the film, he reiterated that while he still did not consider There Will Be Blood to be a masterpiece, he wondered if its "style, an approach, an attitude... might become important in the future."
Roger Ebert assigned the film three and a half out of four stars and wrote, "There Will Be Blood is the kind of film that is easily called great. I am not sure of its greatness. It was filmed in the same area of Texas used by No Country for Old Men, and that is a great film, and a perfect one. But There Will Be Blood is not perfect, and in its imperfections (its unbending characters, its lack of women or any reflection of ordinary society, its ending, its relentlessness) we may see its reach exceeding its grasp. Which is not a dishonorable thing."
Carla Meyer of the Sacramento Bee, who gave the film the same star rating as Ebert, opined that the final confrontation between Daniel and Eli marked when the work "stops being a masterpiece and becomes a really good movie. What was grand becomes petty, then overwrought." In 2014, Peter Walker of The Guardian likewise argued that the scene "might not be the very worst scene in the history of recent Oscar-garlanded cinema ... but it's perhaps the one most inflated with its own delusional self-importance."
Since 2008, the film has been included in the book 1001 Movies You Must See Before You Die and every revised edition released afterwards. Total Film placed it at number three in their list of the 50 best movies of Total Film's lifetime. In The Guardian, journalist Steve Rose ranked it the 17th best arthouse film of all time, and in a separate 2019 ranking a panel of four Guardian journalists ranked it the best film of the 21st century. In 2024, filmmaker Quentin Tarantino named it one of the best films of the 21st century, although, in the following year, he criticized Dano's performance and instead wanted to replace Austin Butler as a better choice if he had top the best.
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