In the first story, a struggling actor discovers a mysterious play called The King In Yellow and becomes obsessed with performing it. As he delves deeper into the play's dark mythology, supernatural horrors begin to plague him and those around him.
In the second story, a group of college students stumble upon a copy of The King In Yellow while researching a term paper on supernatural myths. As they begin to read the play, they unwittingly unleash a malevolent force that threatens to destroy them all.
In the third story, a troubled writer is inspired by The King In Yellow and begins to use it as the basis for a new novel. But as the lines between reality and fiction blur, he finds that his characters are coming to life and taking on a terrifying existence of their own.
In the final story, a detective investigating a series of bizarre murders discovers that each victim had read The King In Yellow shortly before their death. As he follows the trail of clues, he begins to suspect that the play itself may be responsible for the killings and sets out to destroy it before it can claim any more lives.
As the four stories intertwine, a larger conspiracy begins to emerge, revealing the true nature of The King In Yellow and the horrific price that comes with its power.