The game's story revolves around the Crests, six magical stones which preside over their respective elements (Fire, Earth, Water, Air, Time and Heaven).

Seeking infinite power, Firebrand challenges a Demon Dragon for the Crest of Heaven and is victorious, though badly wounded.

Completing the game with the third ending gives the player a special password that allows Firebrand to continue the game with a new transformation, the Ultimate Gargoyle, and access the hidden fourth ending, in which Firebrand can challenge a secret boss named Dark Demon.

Upon winning this battle, the fourth ending plays, in which Firebrand casts away the Crests out of pride for his own power, then leaves to seek another worthy opponent to fight.

Firebrand's main abilities are his fire breath, claws for clinging onto walls, and wings to hover in the air (though he cannot gain height early in the game).

[9] GamePro praised the macabre graphics and complexity of the gameplay, particularly the use of the acquired abilities, but criticized the repetitive music and lack of variety in enemy attacks.

They summarized that "Demon's Crest brings depth and artistry to the action/adventure genre, making it one of the season's top SNES games".

They commented that Demon's Crest is like Castlevania, but with the abilities to fly and shoot fireballs, and they felt the game was "awesome".