Scarlett Dragna sueña con asistir a la celebración anual de Caraval, unos legendarios juegos que duran una semana y en los que la audiencia participa para ganar el Gran Premio. Caraval es magia, misterio y aventura. Y para Scarlett y su hermana representa la libertad y poder de huir de su estricto y cruel padre. Ahora Scar está a punto de casarse con un hombre al que nunca ha visto y cree que su sueño nunca se cumplirá. Justo dos semanas antes de la boda, recibe la ansiada invitación a los juegos. Sin embargo, ahí nada sale como se espera: Legend, el Maestro de Caraval, secuestra a su hermana y Scar se verá obligada a entrar en un peligroso juego de amor, sueños, medias verdades y magia en el que nada es lo que parece. Real o no, sólo tendrá cinco noches para descifrar las pistas que conducen hacia su hermana, o ésta desaparecerá para siempre.

Scarlett has never left the tiny island where she and her beloved sister, Tella, live with their powerful, and cruel, father. Now Scarlett's father has arranged a marriage for her, and Scarlett thinks her dreams of seeing Caraval, the far-away, once-a-year performance where the audience participates in the show, are over. But this year, Scarlett's long-dreamt of invitation finally arrives. With the help of a mysterious sailor, Tella whisks Scarlett away to the show. Only, as soon as they arrive, Tella is kidnapped by Caraval's mastermind organizer, Legend. It turns out that this season's Caraval revolves around Tella, and whoever finds her first is the winner. Scarlett has been told that everything that happens during Caraval is only an elaborate performance. But she nevertheless becomes enmeshed in a game of love, heartbreak, and magic with the other players in the game. And whether Caraval is real or not, she must find Tella before the five nights of the game are over, a dangerous domino effect of consequences is set off, and her sister disappears forever.