Standards, Vol. 2 was recorded in the same January 1983 sessions at Power Station, New York, with the same trio: Keith Jarrett, Gary Peacock, and Jack DeJohnette. It was released simultaneously with Vol. 1, completing the material from those dates.
The album includes standards such as So Tender and Moonlight in Vermont, showcasing the trio's ability to improvise with sensitivity. Manfred Eicher's production maintains the clarity and balance characteristic of ECM.
Like its predecessor, Standards, Vol. 2 was acclaimed by critics and helped establish Jarrett's trio as a reference in standard interpretation. Both volumes are considered essential in the pianist's discography.