The game takes place in the fictional land of Yuria, a Conan the Barbarian-style high fantasy medieval world. An evil entity known as Death Adder has captured the King and his daughter, and holds them captive in their castle. He also finds the Golden Axe, the magical emblem of Yuria, and threatens to destroy both the axe and the royal family unless the people of Yuria accept him as their ruler. Three warriors set out on a quest to rescue Yuria and avenge their losses at the hands of Death Adder. The first is a battle axe-wielding dwarf, Gilius Thunderhead, from the mines of Wolud, whose twin brother was killed by the soldiers of Death Adder. Another is a male barbarian, Ax Battler, wielding a two-handed broadsword, looking for revenge for the murder of his mother. The last is a longsword-wielding Tyris Flare, an amazon, whose parents were both killed by Death Adder. The warriors rescue the inhabitants of the ransacked Turtle Village, which turns out to be situated on the shell of a giant turtle. The turtle takes the characters across the sea, and they then fly to the castle itself on the back of a giant eagle. Once at the castle they defeat Death Adder, who is wielding the Golden Axe, and save the land. In the Mega Drive and PC versions, and also in other ports, the characters also battle Death Adder's mentor, Death Bringer, as the true final boss. After the final battle, the warriors receive a magical golden axe that imbues the player with immortality.