Wizardry V: Heart of the Maelstrom is a new threat to the land of Llylgamyn, where strange malevolent energies have been spotted beneath the Temple of Sages. These energies, known as the "Maelstrom", can be sealed by a person called the Gatekeeper, who has been imprisoned by a mysterious power or person referred to only as SORN. A party of brave adventurers seeks out high priest G'bli Gedook, the guardian of L'Kbreth's Orb, who explains that they must release the Gatekeeper and eventually vanquish the evil at its core.
The gameplay in Wizardry V: Heart of the Maelstrom returns to the concept of the first three installments of the series. Players explore a vast maze-like dungeon with a custom party created and outfitted in the game's only town. The game's dungeon is no longer limited to a square layout, with several tweaks applied to the gameplay system, including range ratings for all weapons and a more prominent role for the Thief class. Players must also obtain crucial items needed for completion, making the game more puzzle-oriented than its predecessors.