Tom DeLonge performing in 2004 with Blink-182. Greatest Hits has been certified platinum in Canada and triple platinum in Australia. Andy Greenwald of Blender called it a 'flawless compilation,' covering the group's transition from 'nudists to near-geniuses.' The compilation was released alongside a DVD of the same name, a collection of the trio's music videos to that point in time. Critics were generally very positive regarding Greatest Hits, viewing it a suitable, reflective compilation of the band's hits. Greatest Hits peaked at number six on the Billboard 200 album chart. ' Not Now', which was recorded during the Blink-182 sessions (and originally released as a bonus track on the UK edition of Blink-182), featured on the compilation and was released as its lead single a cover of ' Another Girl, Another Planet' by the Only Ones was sent to radio as an airplay single. Greatest Hits features numerous hit singles by the band, including ' Dammit', ' What's My Age Again?', ' All the Small Things', ' The Rock Show', ' First Date', ' Feeling This' and ' I Miss You'. The collection covers tracks from the band's debut album Cheshire Cat (1995) to their self-titled album (2003). The compilation collects the band's most successful singles with one new song and a non-album track. In the interim, Hoppus and Barker continued playing together in +44, and DeLonge formed his new outfit Angels & Airwaves. Bassist Mark Hoppus and Travis Barker argued with DeLonge regarding the band's future and their possible next album, and heated exchanges led to DeLonge's exit. Tensions had risen in the group and guitarist Tom DeLonge desired to take time off.

Greatest Hits was created by Geffen shortly after the band's February 2005 breakup, termed an 'indefinite hiatus' by the label. It was released on Octoby Geffen Records. Greatest Hits is the first greatest hits album of American rock band Blink-182.

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