AllMusic wrote "Carly Simon's fourth collection of standards digs a little deeper than her previous outings... She delivers these songs with panache, savvy, and just a touch of sass," continuing "Her smoky voice lends itself well to "I've Got You Under My Skin" and "My One and Only Love", and her sense of theatrics is drop-dead gorgeous on "I Only Have Eyes for You", which is a bit of a radical reworking that actually works. The slippery delivery on these songs is what lends them their unique, sexy character. This isn't for everyone, but it's a winner nonetheless."[3]
Writing for Rolling Stone, David Wild rated the album 3 out of 5 stars and stated "Let no one ever accuse Carly Simon of jumping on the current standards bandwagon. Though Frank Sinatra and Ella Fitzgerald beat her to the punch, Simon was still way ahead of the curve for the rock generation. Torch, the singer-songwriter's first album of songs from the American songbook, came out back in 1981. Simon demonstrates on her fourth album of standards that she remains an assured and expressive stylist, quite comfortable with the exquisite melodic and lyrical subtleties of material like "All the Things You Are", "How Long Has This Been Going On?" and "Moonglow". Moonlight Serenade also marks Simon's reunion with producer Richard Perry... It's nice to see these two back together and still holding themselves to a high standard."[5]
The album was released in both regular and DualDisc formats, the latter which included an interview with Simon and Perry, as well as behind the scenes footage of the recording sessions and the entire album in surround sound.[7]
The album was released in the United Kingdom on October 10, 2005. It included "My Foolish Heart" and another track, "Let It Snow".[9]
Transatlantic concert
A Moonlight Serenade on the Queen Mary 2 (DVD)
In September 2005, Simon performed two concerts aboard the RMS Queen Mary 2, on a transatlantic trip from New York City to Southampton. A DVD of the concerts was released as A Moonlight Serenade on the Queen Mary 2 on November 22, 2005, and an edited version was broadcast on various PBS stations during their December 2005 pledge drives. Simon performed many songs from the album, along with some of her biggest hits.[10]
In October 2005, Simon announced her "Serenade Tour" which was to include older hits and songs from Moonlight Serenade. Her children, Sally Taylor and Ben Taylor, joined her on the tour.[11]