Originally released by Prince and Warner Bros. Records in 1993, The Hits 1 includes an array of the best-selling songs Prince released between 1978 and 1992, including his debut single Soft and Wet, No. 1 singles 1999 and Lets Go Crazy, and the Grammy-winning I Feel For You, which was released in 1979 on Prince and became a hit for Chaka Khan in 1984.

At the time of its debut, The Hits 1 also included previously unheard recordings from Prince: the beguiling Pink Cashmere, which was released as a single ahead of the compilation; and a live version of the song he wrote for his protg act The Family which later became a hit for Sinad O Connor, Nothing Compares 2 U.