Phantasy Star Portable is based on the Phantasy Star universe and it features a single player mode (including a Story mode) and a multiplayer mode for up to 4 players. The retail version of the game enables the player to import the characters created in the demo version of the game.

The game offers the player a wide variety of options on creating a character. Everything from face model to voice pitch can be customized to the player's liking. Battles take place in third person and are party-based. The number of party members to be invited is limited to three. You advance through the main story by completing different missions. Character statistics increase is done automatically on level-up. The game also features an journal to keep track of the item, enemies and more you find along and it offers you information on them.