In a decadent and surreal version of ancient Rome, a young scholar named Encolpius embarks on a journey filled with bizarre and disorienting experiences. He navigates through a series of disjointed and often grotesque episodes that depict the moral and physical decay of Roman society. The story begins with Encolpius and his lover, Giton, being separated by Ascyltus, who claims Giton for himself. Their rivalry sends them on a quest that exposes them to an assortment of unusual characters and surreal scenarios, from lavish banquets and violent festivals to macabre rituals and obscure prophecies.

As Encolpius seeks to reclaim Giton, he encounters various allies and adversaries, each episode further revealing the extravagance and debauchery of the era. His odyssey leads him through encounters with an eccentric poet, a wealthy widow, and various other figures who embody the excesses of their time. The episodic narrative style amplifies the surrealist elements, portraying a chaotic world where reality and illusion blur seamlessly. This fragmented tale mirrors Encolpius's fragmented psyche as he grapples with love, rivalry, and existential despair amidst the backdrop of a crumbling civilization.