The player roams the land, buys supplies in towns, hires troops, finds treasure chests, and gets contracts to capture castles in order to earn money and reputation to maintain a large, loyal fighting force. The game retains many familiar elements from King's Bounty. The game had been a free, non-commercial project from the start, so splitting it into parts was not done as a step towards the shareware model, but rather because of free time considerations. However, apparently only the first part was completed and released to the public. King's Bounty 2 was supposed to be split into two parts, with the first concerning the search for the map pieces, and the second would take place on the lost continent. Each continent's Lord of the Land might help obtaining a piece of the map, but will request a favour or two in return, and there are other quests to complete on each continent as well. To this end, the player must find five pieces of an ancient map that have been scattered across other continents. Before this can be done however, the continent where the Dark Castle is located must be found. The player, taking the role of the King's trusted knight, must find the castle, defeat the wizard and bring the artifact back.

An evil wizard has stolen an important MacGuffin (which isn't even named) from the King, and hid it away in the Dark Castle on a lost continent. The game isn't shy of its rather clichéd plot. Custom EGA graphics that had been made for King's Bounty 2 often draw inspiration from Russian/Slavic folk tales. The game is neither a remake nor a sequel to the original King's Bounty, but rather it expands on the ideas of its inspiration while adding new, unique elements. King's Bounty 2 is an unofficial game inspired by New World Computing's King's Bounty that was created in 1992-1993 by Sergei Prokofiev, a programmer based in Kharkov (Ukraine).

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