The novel was widely acclaimed by readers and critics alike, described as a funny, acerbic, and moving hymn to a dazed and confused era of American life.

The novel takes place over Thanksgiving weekend 1973, during a dangerous ice storm, and centers on two neighboring families, the Hoods and the Williamses, and their difficulties in dealing with the tumultuous political and social climate of the day.

The story focuses on the 24 hours in which a major ice storm strikes the town of New Canaan, just as both families are melting down from the parents' alcoholism, escapism and adultery, and their children's recreational drug use and sexual experimentation.

The rapidly changing sexual mores of the period are reflected in the lives of both families, whose members experiment with traditionally taboo acts such as suicide and adultery.

The film adaptation The Ice Storm featured a cast including Sigourney Weaver, Kevin Kline, Joan Allen, Christina Ricci, Tobey Maguire and Elijah Wood.