Set in 11th-century China, the plot is made up of separate yet intertwining storylines revolving around three protagonists – Qiao Feng, Duan Yu and Xuzhu – and other characters from various empires (Song, Liao, Dali, Western Xia and Tibet) and martial arts sects.

The novel examines the cause and effect that form and break the inherent bonds underlying each major character's struggles on five uniquely corresponding levels: self, family, society, ethnic group, and country (dominion).

Jin Yong originally modelled each major character after one of the races but, as he continued writing, the complexity of the story made it impossible for such a simplistic mapping.

[3] The plot is made up of separate yet intertwining storylines revolving around three protagonists – Qiao Feng, Duan Yu and Xuzhu – who become sworn brothers in chapter 41.

During his adventures, he encounters five young maidens – Zhong Ling, Mu Wanqing, Wang Yuyan, Azhu and Azi – and becomes romantically involved with the first three.

Qiao Feng is the charismatic chief of the Beggars' Sect who possesses strong leadership qualities and exceptional prowess in martial arts.

Feeling regret and sorrow, Xiao Feng leaves Song territory with Azi, Azhu's younger sister, whom he has promised to take care of.

Xiao Feng returns to the Song Empire later to find Azi and attend a wulin gathering at Shaolin Monastery, where he combines forces with Duan Yu and Xuzhu to overcome their foes.

At Shaolin, the truths behind all the murders are revealed and the guilty parties receive their just deserts; Xiao Feng also successfully proves his innocence and makes peace with the wulin.

Towards the end of the novel, Yelü Hongji plans to invade the Song Empire and wants Xiao Feng to support him, but the latter refuses and attempts to dissuade him to prevent bloodshed.

By coincidence and sheer luck, he breaks a weiqi formation and inherits the powers and position of Wuyazi, the leader of the Carefree Sect.

Feeling overwhelmed by the sudden influx of responsibilities and a major leap in martial prowess, Xuzhu desires to detach himself from these duties and return to his former monastic life.