Christopher Blair, "Heart of the Tiger" had retired to a farming planet after the war, content with retirement, so he says... In the depths of space, a new menace has surfaced. Some unknown attackers are killing civilian ships. The tension between the Confederation and the Border Worlds is at an all time high, as both sides accuse the other of staging the attacks. Admiral Tolwyn has recalled Blair back to service, where he will make the most difficult choice of all... And contemplate action he had never dared before, in the name of justice...

Wing Commander IV: The Price of Freedom is a mix of interactive movie and space sim. The game has a dynamic mission tree, which means the player's behaviour will determine the next mission. The videos feature real actors, like Mark Hamill, Tom Wilson, John Rhys-Davies and Malcolm McDowell. Before the start of each mission, the space craft can be equipped with different weapons. Sometimes the mission objectives change during flight, and the player has to make decisions what he wants to do next, e.g. help out his friend or destroy an enemy fighter.