Lord of Arcana is an Action RPG game in which the player (as a customizable character) is taken to the world of Horodyn, where he will have to acquire the Arcana power. To do so, he will need to hone his skills by completing quests from the village of Porto Carillo's slayers guild. The quests consist of defeating specific foes, gathering material, and so on.
The player must complete quests in set locations such as forests, caves, and deserts. Upon defeating monsters in these quests, various materials can be obtained, which can be used to craft equipment in the village. This includes usable items like potions, charms, weapons, armors, orbs, and cards that can be equipped.
There are five types of weapons available, each with their specific strengths and weaknesses. Changing weapons will be useful depending on which opponent the player wants to face.
The armors, shields, and headgear offer great protection and sometimes have slots to equip orbs.
Orbs have a wide array of powers. Some can be used to boost elemental attacks or defenses, some allow quicker movement or make the weak points of monsters visible.
Cards are needed to cast magic. There are regular spells and more powerful Ultimate Magics that summon the Arcana Guardians to perform incredible feats.
The Guild also serves as a place where multiple players can join and quest together via the PSP's ad hoc mode. The available quests are the ones that the host player can access in regular gameplay.