Thousands of years ago, the benevolent Goddess Althena transformed the barren world of the Silver Star into the habitable place known to its inhabitants as "Lunar".

In order to preserve the life-force of the planet, as well as guide the elements within it, Althena created four all-powerful dragons and a warrior who wielded their combined power known as the Dragonmaster.

Years later, a boy named Alex from the small town of Burg is infatuated with stories of Dyne and the Four Heroes, and longs to become an adventurer himself and one day become a Dragonmaster like his idol.

With the help of his best friend, Nall, a small, winged, cat-like creature, and Luna, his love interest who has lived with him since she was a child, Alex leaves on his adventure to pass the trials of the Dragons, and ultimately gets caught up in a struggle for the existence of his world.

[1] Because of the game's limited 8-megabyte cart size, many features standard to the Lunar series such as voice acting and video sequences were omitted, with Media Rings instead utilizing real-time cutscenes using larger, more detailed character sprites to tell the story.

[4] The North American version became the first English Lunar title to not be produced by Working Designs, with company president Victor Ireland passing on the project for undisclosed reasons.

[3] During the 2002 IEMA Executive Summit, Ubisoft revealed they had acquired the publishing rights to Lunar Legend, with an initial release date of November 2002.

[3] Ubisoft's script remained closer to the original Japanese version than previous English endeavors, but retained Working Designs' character names and overall light-hearted tone.

[14] GameSpot similarly declared that the game was "fun and engaging", but found the low difficulty lacking in challenge and the audio quality below the standard, commenting that the "generic battle sounds and forgettable music don't leave much of an impression".