Hope's Peak Academy is a top school at which many "ultimates" are enrolled, such as the Ultimate Pop Sensation and Ultimate Martial Artist. When an average boy named Makoto Naegi is selected by lottery to attend this prestigious institution, he becomes the "Ultimate Lucky Student."

Unfortunately, Naegi's first day is nothing like he expected. He and his classmates fall unconscious and wake to find themselves trapped in Hope's Peak. To make matters worse, they are informed by their principal—a sadistic black and white bear named Monokuma—that in order to leave, one of the students will have to murder a fellow classmate and get away with it. If the killer is caught, they themselves will be executed, and this "School Life of Mutual Murder" will continue until only a single person remains. With no other choice left, the 78th class of Hope's Peak Academy must play Monokuma's twisted game, all while inching closer to the truth behind their predicament. To survive, it will take all their wits, a bit of luck, and most importantly, hope.