As a member of the Eagles, Walsh was inducted into the Rock and Roll Hall of Fame in 1998, and into the Vocal Group Hall of Fame in 2001. The Eagles are considered to be one of the most influential bands of the 1970s, and they remain one of the best-selling American bands in the history of popular music. His creative contribution to music has received praise from many of the best rock guitarists, including Led Zeppelin's Jimmy Page, who said, "He has a tremendous feel for the instrument. I've loved his style since the early James Gang." Eric Clapton said that "He's one of the best guitarists to surface in some time. I don't listen to many records, but I listen to his." The Who's guitarist, Pete Townshend, said "Joe Walsh is a fluid and intelligent player. There're not many like that around."

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