The album consists entirely of previously released material. Released to capitalize on the new outlaw country movement, Wanted! The Outlaws earned its place in music history by becoming the first country album to be platinum-certified, reaching sales of one million.
The album quickly reached No. 1 on the country charts and peaked at No. 10 on the pop charts, with two hit singles released, "Suspicious Minds" and "Good Hearted Woman." The two peaked at No. 2 and No. 1, respectively, both featuring Jennings.