Driven by an insatiable curiosity for magic, the protagonist Lucius accidentally transforms himself into a donkey, initiating a series of arduous and often humiliating experiences. Lucius must navigate a world filled with thieves, corrupt priests, and cruel masters while trapped in his animal form. His objective is to regain his human shape, a goal that requires him to overcome his own moral failings and seek divine intervention. The narrative employs a first-person perspective, blending realistic social observation with fantastical elements and allegorical subplots. The world is defined by the rigid hierarchies of the Roman Empire, where the protagonist's physical vulnerability as an animal highlights the absurdity and cruelty of human society.

Readers and critics frequently highlight the work's unique position as the only complete Latin novel to survive from antiquity. Discussion often centers on the abrupt tonal shift between the ribald, comedic adventures of the first ten books and the solemn, religious conclusion involving the cult of Isis. Scholars emphasize the text's influence on the development of the picaresque genre and its sophisticated use of irony. Many readers note that the embedded myth of Cupid and Psyche serves as a crucial philosophical anchor for the entire narrative. The text remains a subject of intense study regarding its blend of low-brow entertainment and high-minded spiritual inquiry.