Monopoly for Master System is an early licensed version of the classic real estate trading board game.

The game supports up to ten players (ten classic tokens are available), of which any number can be controlled by the computer. The skill of computer opponents can be set in three levels from beginner to expert. During a game, it is possible to convert any human player to a computer player or vice versa. It is also possible to set a time limit for each game.

The game board is seen from the top and fills the screen, with the exception of a bar at the right which is reserved for an image of the current player's token, name and cash reserve, as well as the number of houses and hotels remaining with the bank. The movement of tokens around the board is seen in a special animation which can be toggled off. Available options during a player's turn are selected from a menu. The game cartridge contains a battery for saving a game in progress.