Rotten Tomatoes, which awards scores based on critics' views, awarded John Wick: Chapter 4 a very positive 94%.
BBC reports the second and third films both scored 89%, while 2014's original got 86%.
The Hollywood Reporter said Chapter 4 "outdoes its formidable predecessors in nearly every respect".
The film, which comes out on Friday, sees Wick being pursued by global criminal organisation the High Table.
It was called "an all-action blockbuster that really gives its all" by NME's Jesse Hassenger, while the Evening Standard's Charlotte O'Sullivan called it "preposterously enjoyable".
"JW4 is going to be huge and, for me, it's easily the most satisfying entry of the lot," she added.
Rolling Stone's David Fear said no-one could have predicted in 2014 that Wick would "revolutionize American action movies", calling the film series "deliriously pleasurable".
It has "established itself as the most reliable film franchise this side of Mission: Impossible", he added.
The Hollywood Reporter's Frank Scheck called the new chapter "pure, over-the-top action spectacle", adding: "Bigger, badder, bolder, longer, and featuring nearly more spectacular set pieces than one movie can comfortably handle, this epic action film practically redefines the stakes.
"Reeves commits so thoroughly to the role's insane physical demands that he should get an award, if not for acting, then merely surviving."
'Cool and kind'
The actor was also praised by the Los Angeles Times' Justin Chang, who said: "Reeves somehow barrels through the picture with equal parts rampaging force and Zen-like cool.
"Never one to upstage his fellow actors, he succeeds, as few movie stars could, at both drawing and deflecting the camera's attention."
Reeves, who has previous starred in hits like the Matrix films, Point Break and Speed, recently told ABC News it was "cool" and "kind" for some people to be describing the latest film as one of the greatest action movies of all time.
Photo Screenshot BBC