The protagonist is Ax Battler, the male barbarian character from the original Golden Axe game. The series' primary villain, Death Adder, is laying siege to the entire world. He steals the Golden Axe - a magical weapon that grants its wielder unimaginable power - from its hiding place in Firewood Castle. To prevent Death Adder using its powers to destroy the world, the king of Firewood Castle calls upon the help of his strongest warrior: Ax Battler.

During his journey, Ax Battler must battle through the following 'special landmarks': The Spooky Cave, Peninsula Tower, Turtle's Back, Death Pyramid, Evil Cave, Maze Wood, Gayn Mountain, Eagle's Back, Ice Cliffs and Death Adder's Castle.