Karnov is a Russian circus strongman who wants to become wealthy by collecting all parts of a treasure map. However, he's being stopped by the evil dragon Ryu. The story takes a different turn in this version, where Karnov is called by God to get rid of the troublemaker Alakatai.
Karnov features nine stages of side-scrolling action. Karnov can breathe fireballs at enemies and collect power-up orbs to increase his fire-breathing ability. He can also jump, which gets stronger with boots. Other items like bombs, ladders, boomerangs, clappers, and shields are available for use. Karnov can fly with wings or swim underwater using a scuba gear helmet. Collecting 50 K icons rewards him with an extra life.