"I Want to Hold Your Hand" was the band's first number-one hit on the Billboard Hot 100 chart, starting the British Invasion of the United States music charts. The song entered the chart on 18 January 1964 at number 45; it later held the number one spot for seven weeks, and ended up charting for 15 weeks. It also held the top spot in the United Kingdom charts. A million copies of the single had already been ordered on its release. "I Want to Hold Your Hand" became the Beatles' best-selling single worldwide.

Manager Brian Epstein was getting worried about the Beatles' lack of commercial success in America—their earlier singles had flopped there—and so he encouraged Lennon and McCartney to write a song that would appeal to American listeners. McCartney had recently moved into 57 Wimpole Street, London W1, where he was living as a guest of Dr. Richard and Margaret Asher, whose daughter, actress Jane Asher, had become McCartney’s steady girlfriend after meeting him earlier in the year. This location briefly became Lennon and McCartney’s new writing base, taking over from McCartney’s Forthlin Road home in Liverpool. Margaret Asher taught the oboe in a "small, rather stuffy music room" in the basement and it was here that Lennon and McCartney sat at the piano and composed 'I Want to Hold Your Hand'. In September 1980, Lennon told Playboy magazine:

In 1994, McCartney agreed with Lennon's description of the circumstances surrounding the composition of "I Want to Hold Your Hand" saying:

The Beatles started recording "I Want to Hold Your Hand" at EMI Studios in Studio 2 on 17 October 1963. This song, along with the single's flip side "This Boy", was the first Beatles song to be recorded with four-track technology. Both songs were recorded on the same day, and each needed seventeen takes to complete. Also the Beatles were experimenting with organ sounding guitars which was achieved by extreme compression on John Lennon rhythm guitar. Mono and stereo mixing was done by George Martin on 21 October 1963, and further stereo mixes were done on 8 June 1965, for compilations released by EMI affiliates in Australia and the Netherlands, and on 7 November 1966.

"I Want to Hold Your Hand" was one of two Beatles songs (along with "She Loves You" as "Sie liebt dich") to be later recorded in German, entitled "Komm, gib mir deine Hand". Odeon, the German arm of EMI (the parent company of the Beatles' record label, Parlophone Records) was convinced that the Beatles' records would not sell in Germany unless they were sung in German. The Beatles detested the idea, and when they were due to record the German version on 27 January 1964 at EMI's Pathe Marconi Studios in Paris (where the Beatles were performing 18 days of concerts at the Olympia Theatre) they chose to boycott the session. Their record producer, George Martin, having waited some hours for them to show up, was outraged, and insisted that they give it a try. Two days later, the Beatles recorded "Komm, gib mir deine Hand", one of the few times in their career that they recorded outside of London. However, Martin later conceded: "They were right, actually, it wasn’t necessary for them to record in German, but they weren’t graceless, they did a good job".

"Komm, gib mir deine Hand" appeared in full stereo on the US Capitol LP 'Something New' and currently on the new Capitol CD compilation called "The Capitol Albums Vol. I".

The track was a big hit in Germany, but today the English versions are much better known in Germany (The Beatles Red and Blue albums feature the English hits on the German pressings).

In the UK, "She Loves You" (released in August) had shot back to the number one position in November following blanket media coverage of the Beatles (described as Beatlemania). Mark Lewisohn later wrote: “'She Loves You' had already sold an industry-boggling three quarters of a million before these fresh converts were pushing it into seven figures. And at this very moment, just four weeks before Christmas, with everyone connected to the music and relevant retail industries already lying prone in paroxysms of unimaginable delight, EMI pulled the trigger and released 'I Want To Hold Your Hand'. And then it was bloody pandemonium".

On 29 November 1963, Parlophone Records released "I Want to Hold Your Hand" in the United Kingdom, with "This Boy" joining it on the single's B-side. Demand had been building for quite a while, as evidenced by the one million advance orders for the single. When it was finally released, the response was phenomenal. A week after it entered the British charts, on 14 December 1963, it knocked "She Loves You", another Beatles song, off the top spot, the first such instance of the same act taking over from itself at number one in British history, clinging to the top spot for five full weeks. It stayed in the charts for another fifteen weeks afterwards, and incredibly made a one-week return to the charts on 16 May 1964. Beatlemania was peaking at that time; during the same period, the Beatles set a record by occupying the top two positions on both the album and single charts in the United Kingdom.

EMI and Brian Epstein finally convinced American label Capitol Records, a subsidiary of EMI, that the Beatles could make an impact in the United States, leading to the release of "I Want to Hold Your Hand" with "I Saw Her Standing There" on the B-Side as a single on 26 December 1963. Capitol had previously resisted issuing Beatle recordings in the U.S. This resulted in the relatively modest Vee-Jay and Swan labels releasing the group's earlier Parlophone counterparts in the U.S. Seizing the opportunity, Epstein demanded US$40,000 from Capitol to promote the single (the most the Beatles had ever previously spent on an advertising campaign was US$5,000). The single had actually been intended for release in mid-January 1964, coinciding with the planned appearance of the Beatles on The Ed Sullivan Show. However, a 14-year old fan of the Beatles, Marsha Albert, was determined to get hold of the single earlier. Later she said: