Once upon a time, there was a prince named Gallagher. He was entrusted with a magical ring that granted him great powers. But he was too weak to control the power of the ring, and became possessed by it. The mad prince was sealed into a crystal, but many years later managed to break out, planning to wreak havoc on the Dream World and conquer it. Yuko, the heroine of the three previous Valis games, is no longer a sacred Valis warrior - she has become a goddess. Lena, a young girl who wants to become a Valis warrior, must prove to Yuko she is worthy to wield the sword of Valis, that will eventually stop the evil plans of Gallagher.

Super Valis IV is a version of Valis IV. The biggest difference in this release is the omission of the two protagonists Amu and Asfal, both from the story and the gameplay. The player controls only Lena, and all references to the other two pivotal characters are removed. This version also has less stages and less cutscenes than the PCE (TurboGrafx) CD release.

There are also significant differences in the gameplay system. Lena cannot slide, but can run faster in this version. Magic bar as well as HP- and MP-increasing items have been completely removed. Lena can, however, equip special items that enhance her default Valis sword attack.