The series follows the stories of everyday people as they encounter fantastic events involving magic and the supernatural and how their lives are forever changed by their adventures with the otherworldly.

Like the children's television series Hiraya Manawari, the series also focus on providing values education for kids and teens through courage, discipline, honesty, humility, love, obedience, respect and other moral values, adapted from Filipino stories and legends or original stories.

Wansapanataym was launched in 1997, having genre similarities with the ABS-CBN Foundation-produced educational program Hiraya Manawari (which features Filipino short stories for children) and the 1980s series Pinoy Fantasy.

A film was also produced based on the show's genre, which starred Serena Dalrymple, Christopher de Leon and Shaina Magdayao.

From September 5, 2004 to February 27, 2005, the show underwent a reformat featuring two child characters (played by Sharlene San Pedro and Nash Aguas) and a magical book inside a chest or somewhere in their house at the start and end of almost every episode.

The story is about an orphaned girl named Anna (Shaina Magdayao) who searches for her long-lost father (Christopher de Leon) whom she was able to find with the help of a guardian angel Barbiel (Serena Dalrymple).

During the ABS-CBN Trade Launch held at NBC Tent, Metro Manila in August 2010, it was announced that Wansapanataym would return with new episodes.

The third run of WansapanataymSummer presents "My App #Boyfie" aired from April 13 to 24, 2015, every Mondays to Fridays at 9:20 am, replacing Haikyu!!

It was composed by Homer Flores in the television series and Jaime Fabregas in the film, with lyrics by Jose Bartolome.