The film struck a chord with audiences through its unique mix of suspense, comedy, and memorable performances. Kartik Aaryan's portrayal of the quirky and charming Rooh Baba added a modern twist to the franchise, while Tabu's dual-role performance drew particular praise, earning her critical acclaim and several awards. Despite some criticism aimed at the writing and editing, the film maintained a strong cultural presence and became a fan favorite.

T-Series' anniversary post captured the essence of the film's legacy, captioned, "3 years of laughter, chills & the OG Rooh baba thrills!" The celebration also acknowledged the film's continued relevance, including its presence at the 2025 Zee Cine Awards, where Kartik Aaryan won Best Actor (Viewer's Choice), cementing the film's impact on both audiences and the industry.

With the successful release of Bhool Bhulaiyaa 3 in 2024, the franchise has firmly established itself as a beloved staple in contemporary Hindi cinema. As fans look back on Bhool Bhulaiyaa 2, it stands not just as a sequel, but as a defining film that blended nostalgia with novelty, and set the stage for the future of horror-comedy in Bollywood.