The single, released by Island Records in 1982, became a number one on the U.S. Billboard Hot 100 on November 6, 1982 and kept the position for three weeks, also reaching number 7 in the UK, where the film and song were less popular. "Up Where We Belong" won the Golden Globe Award for Best Original Song and the Academy Award for Best Original Song in 1983. It also won the BAFTA Film Awards for Best Original Song in 1984. Cocker and Warnes also won the Grammy Award for Best Pop Performance by a Duo or Group with Vocal in 1983 for their rendition of this song.