By Selena Hill ( | First Posted: Oct 15, 2013 11:56 AM EDT

The cover art for Eminem's single "Rap God" which was released on Oct. 14. 2013. (Photo : Wikipedia)

Eminem may be one of the most renowned rappers of all time, and he raps with a fierce hunger to prove he's a true "rap god" on his new single released Monday.

"Rap God" is the hip-hop icon's third track off his eighth studio album, the "Marshall Mathers LP 2," which is scheduled to drop on Nov. 5. The song is available for download now on iTunes.

In the song, the rapper spits lyrics in his signature fast flow and delivers a number of punchlines while paying tribute to the old school of hip-hop.

His verses pays tribute to legends like Heavy D & the Boyz and the rappers who inspired him. He calls himself a "product of Rakim" as well as Tupac, N.W.A. and Lakim Shabazz. He also gives recognition to the all-female 1980's hip-hop trio J.J. Fad by emulating their rap style from their 1988's smash hit "Supersonic."

One of the epic moments in Shady's song is when he explains his ambition, saying that he feels the need to write a few rhymes because, "even you unsigned rappers are hungry, looking at me like it's lunchtime."

Over the course of six minutes, he also makes a reference to the beef shared between rapper Fabolous and Kim Kardashian's ex-boyfriend, R&B singer Ray-J back in 2009. In addition, he speaks of his own history dating his career back to President Bill Clinton's sex scandal with Monica Lewinsky.

The highly acclaimed track has already been praised by Time, which stated that "the world can expect an immortal recording" based on "Rap God" and the album's lead single, "Berzerk."

However, critics at Spin say that Em's new track falls short of divinity, noting that his pop culture references are outdated and some of his punchlines are basic.

"Suggesting that his competition needs maxi-pads is awfully ridiculous-sounding in 2013, as are Ray J references (no one cares), and the line, "How could I not blow? All I drop is F-bombs," writes Spin.

Take a listen to "Rap God" below.

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