"Wolf Girl & Black Prince" centers on Erika Shinohara, a high school girl who fabricates stories about having a boyfriend to fit in with her friends. To maintain her lie, she takes a photo of a handsome stranger, Kyouya Sata, and claims he is her boyfriend. Unbeknownst to her, Kyouya attends the same school and quickly discovers her deception. Instead of exposing her, Kyouya agrees to play along with the ruse under one condition: Erika must become his "dog" and obey his every command. This arrangement forces Erika into a series of humiliating and challenging situations as she navigates the complexities of their fake relationship.

Kyouya, known as the "Black Prince" for his cold and manipulative demeanor, initially treats Erika with disdain, using her vulnerability to his advantage. However, as the story progresses, subtle shifts in their dynamic reveal deeper layers to Kyouya's character, hinting at his own insecurities and emotional struggles. Erika, despite her initial naivety, begins to develop genuine feelings for Kyouya, complicating their already strained relationship.

The narrative explores themes of self-esteem, social pressure, and the blurred lines between pretense and authenticity. Erika's journey involves reconciling her desire for acceptance with her growing understanding of what it means to form a real connection. Kyouya, on the other hand, gradually softens as he confronts his own vulnerabilities, allowing for moments of genuine care and affection to emerge.

Supporting characters, such as Erika's friends and Kyouya's acquaintances, add depth to the story by providing contrasting perspectives on relationships and self-worth. The series balances comedic moments with emotional tension, creating a dynamic interplay between humor and drama. Through its exploration of flawed yet relatable characters, "Wolf Girl & Black Prince" offers a nuanced portrayal of teenage relationships and the challenges of navigating identity and intimacy.