A young man navigates the treacherous political and social landscape of late 17th and early 18th century England. Henry Esmond, orphaned and raised by a loyal family, finds himself drawn into the Jacobite cause and the court of Queen Anne. He must contend with rivalries, betrayals, and his own conflicted loyalties as he seeks to secure his family's honor and his own place in a changing world. The narrative is framed through Esmond's own retrospective account, colored by his experiences and reflections.

The novel is widely regarded as one of Thackeray's most mature and accomplished works, often praised for its intricate plotting and nuanced character development. Critics frequently highlight its historical detail and the compelling first-person narration, which allows for a deep exploration of the protagonist's inner life and moral complexities. The novel's examination of loyalty, ambition, and the nature of heroism within a richly drawn historical setting has cemented its place in literary history. Its retrospective narrative voice provides a unique perspective on the events and the protagonist's evolving understanding of the world.