The central conflict of High School Aura Buster is an ancient, hidden war between two supernatural factions. The "Sora no Mono" (Those of the Sky) are divine incarnations with immense power but short lifespans, while the "Yō no Mono" (Those of the Yō) are demonic, ghost-like entities that must possess humans to survive. Caught between these two forces are the "Jutsusha" (practitioners), humans born from the bloodlines of the Sky faction who wield lesser but significant abilities, such as manipulating energy (the "Dō" type) or creating barriers and healing (the "Sei" type).

The story is set in a late 1980s Japanese high school environment, centered on the protagonist, Ryosuke Sakiya, a quiet and indecisive student and member of the art club. Ryosuke is an anomaly known as an "Aura Buster," the only known neutralizer who can involuntarily cancel out both demonic and practitioner powers. His life changes with the arrival of a transfer student, Ryo Mizusawa, an impulsive fire-wielding practitioner who forcefully declares himself Ryosuke's friend. Ryo is on a mission from his clan leader to hunt the Yō no Mono, and his presence quickly draws Ryosuke into the supernatural world. After Ryosuke is attacked by a spectral armored warrior, he is rescued by other young practitioners: Kisara Izumi, a skilled fighter, and Jukuro Satomi, a barrier specialist.

The narrative follows Ryosuke as he learns to control his devastating neutralization ability, which is as dangerous to his allies as it is to his enemies. The main cast is expanded by Saeko Nanase, a healer with a complex relationship to Ryo’s clan leader, and Ai Kambara, Ryosuke’s understanding girlfriend who lacks powers but knows the truth. The central storyline arcs involve their battles against the three "Kishō" (Demon Generals) of the Yō no Mono, who seek to revive their master, the traitorous former Sky Queen Kunaki. In opposition stands the reincarnated Sky King, Garā-Ō, now living as the enigmatic model and clan leader Shinobu Saiga. The series culminates in a revived 900-year-old conflict between Garā-Ō and Kunaki, forcing the young high school practitioners to fight a war that spans multiple volumes and leads to a decisive final battle.

Originally published as a long-running light novel series by Mio Wakaki from 1989 to 2004, the main story was revived and concluded under the title High School Aura Buster Refined from 2011 to 2021.