The game centers on the titular character Rayman, who is tasked with saving the fantastical land of the Fairy Glade from an army of robotic pirates led by Admiral Razorbeard.

By collecting lums (small bodies, or shards of magical energy), the player unlocks more information about the game world and its back story, which can be read by standing still and pressing a specific button for some time.

Some back story is also obtained through (optional) instructions from Murfy, a "flying encyclopaedia" who provides explanations on all kinds of gameplay elements.

Rayman 2 takes place in a fictional world called the Glade of Dreams, and revolves around its invasion and occupation by an armada of interstellar Robo-Pirates, led by Admiral Razorbeard.

Ly the Fairy telepathically communicates with Rayman explaining the consequences of the damage, with the core's shattering into 1000 Yellow Lums, and the capture of many fighters.

The destruction of the world's core significantly weakens and disables Rayman's powers, which leads to his subsequent capture and imprisonment aboard the Buccaneer, the Robo-Pirates' flying prison ship.

The Teensies use the Yellow Lums Rayman collected to grant him access to the Hall of Doors, a network of portals to various areas throughout the Glade of Dreams.

Ly instead tells Rayman of four ancient elemental masks hidden in secret sanctuaries that can be used to awaken Polokus, a being powerful enough to defeat the pirates.

Rayman travels to the Menhir Hills and finds Clark, a friendly giant who has become terminally ill after accidentally swallowing a Robo-Pirate.

He asks Rayman to retrieve the Elixir of Life from the Cave of Bad Dreams, a realm within the Marshes of Awakening that can only be accessed if the occupant knows its name.

If the player accepts Jano's offer, a humorous ending will depict an overweight Rayman surrounded by treasure on a small island.

Rayman arrives at the Sanctuary of Rock and Lava and obtains a new power from Ly, which allows him to fly indefinitely with his helicopter hair.

After defeating Foutch and obtaining the third mask, Polokus teleports Rayman to the Iron Mountains, which houses a vast network of mines.

Polokus uses the power of all four masks to awaken himself and tells Rayman that he can destroy all Robo-Pirates in the Glade of Dreams on ground level but not in the air.

On board the Buccaneer, a general visits Razorbeard and presents to him the Grolgoth, a large powered exoskeleton, which makes the user invulnerable to damage.

During the descent, Ly telepathically saves Rayman from his fall and creates him a sentient flying shell, which he uses to knock the Grolgoth into the lava.

[6] The art design was inspired by the works of Hayao Miyazaki and Tex Avery, and was made to give the game's world a sense of mythology.

[72] Jeff Lundrigan for Next Generation reviewed the Nintendo 64 version of the game for and stated that "with its cute character designs and slick, polished gameplay, Rayman 2 is one of the few titles that can honestly claim to have something to offer any gamer of any age or skill.

"[73] IGN writer Brandon Justice praised it as "the most impressive feat of game design and execution the platforming genre has ever seen" and recommend players to forget about Super Mario 64, Banjo-Kazooie and Crash Bandicoot.

"[39] Stuart Clarke of the Sydney Morning Herald appreciated that the graphics are "lush and beautiful" which was helped by the Nintendo 64 Expansion Pak or a "good" PC 3-D accelerator card.

"[76] The reception for Rayman DS was mixed or average, IGN writer Craig Harris citing graphical flaws and camera problems.

While it did support controlling the game via the touchpad, this was regarded as both "sloppy and awkward,"[77] GameSpot writer Provo Frank criticize that it has made numerous graphical issues that often interfere with gameplay.