"Lance N' Masques" is a fantasy anime series that centers around Youtarou Hanafusa, a young man who is the last surviving member of the Knights of the World, a secret order dedicated to protecting the innocent. Youtarou lives by a strict code of chivalry, always wearing a mask to conceal his identity as he carries out his duties. His life takes a dramatic turn when he encounters Makio Kidouin, a wealthy and sheltered young girl who becomes the target of a kidnapping plot. Youtarou rescues her, and the two form a close bond, with Makio developing a deep admiration for him.

The narrative explores Youtarou's dual life as both a protector and a student, as he enrolls in a prestigious academy to keep a closer watch over Makio. Alongside Makio, other key characters include Yoriko Sudou, a cheerful and athletic classmate who becomes Youtarou's friend, and Shirohime, a mysterious girl with a connection to the Knights of the World. As the story progresses, Youtarou faces various challenges, including confrontations with the Black Musketeers, a rival group with opposing ideals, and the revelation of secrets tied to the Knights' history.

The series blends elements of action, comedy, and drama, with a focus on themes of heroism, loyalty, and the complexities of living by a code of honor. Youtarou's unwavering commitment to his ideals is tested as he navigates the moral ambiguities of his role and the growing relationships with those around him. The plot unfolds through a mix of episodic adventures and overarching storylines, culminating in a climactic confrontation that forces Youtarou to confront his past and the true meaning of being a knight.