Final Fantasy XI was awarded the grand prize from the Japan’s Consumer Entertainment Software Association (CESA) for 2002–2003 along with Taiko no Tatsujin. It has also received GameSpy’s 2003 PC MMORPG Game of the Year Award and IGN’s Game of the Month for March 2004, citing the game’s huge customization and its successful cross-platform and cross-language game world. Final Fantasy XI was referenced in the online game Minna no Golf Online in the form of a Final Fantasy XI-themed lobby. A direct sequel of Final Fantasy XI was thought to be in development, but Square Enix denied this report. They did however confirm that the creators of Final Fantasy XI were working on a new MMORPG, although it is not necessarily Final Fantasy-related.

The game has spawned several written adaptations and related merchandise. Starting in 2003, a series of Final Fantasy XI novels was written by Miyabi Hasegawa and released in Japanese, German, and French. In 2004, a Japan-exclusive manhwa titled Final Fantasy XI ~The Out of Orders~ was created by artist Kim Byung Jin and story writer Kim Sungjae. Additionally, Adventure Log, a webcomic by Scott Ramsoomair, was commissioned by Square Enix starting in 2007. Final Fantasy XI PlayOnline Visa and MasterCard credit cards were available in Japan, with features including no annual fees as long as cardholders remain PlayOnline subscribers and various other rewards. There have also been posters with limited edition phone cards and keychains released, also exclusively in Japan. Several T-shirts have been made available for order in North America, and various stuffed animals have also been made available to order of different races from the series. A Vana’diel clock was also marketed, as well as CDs of the game’s music.