Elvis Presley released it as a single on April 20, 1970. Its b-side song was "Mama Liked the Roses". In the United States, both songs charted at #9 together in the spring of 1970, though "The Wonder of You" was one of his most successful records in the UK ever, topping the UK Singles Chart for six weeks in the summer of that year. This was the 59th Top 40 hit of his career. "The Wonder of You" was one of about thirty five songs he would play live in concert, never recording it in a studio. Presley's version also reached number 37 on the US Country Singles chart, and number one on the easy listening chart.
It was the first of three singles during his lifetime that were recorded live in concert in Las Vegas, Nevada in February 1970.
Peterson himself relates a telling tale: "He [Elvis] asked me if I would mind if he recorded 'The Wonder of You.' I said, 'You don't have to ask permission; you're Elvis Presley.' He said, 'Yes, I do. You're Ray Peterson