The fragile stability of a psychiatrist's marriage and professional identity fractures under the weight of his wife's mental instability and the allure of a young actress. Dick Diver, a promising American psychiatrist, finds his life and career increasingly compromised by his marriage to Nicole, a wealthy patient he once treated. As they navigate the expatriate social circles of the French Riviera, the couple faces the erosion of their personal boundaries and the slow decay of their shared reality. The narrative employs a non-linear structure that shifts between the perspectives of the central characters, emphasizing the disparity between their public facade and private disintegration.

Readers and critics frequently discuss the novel's complex structure and its reflection of the author's own personal struggles. Discussion often centers on the tragic arc of Dick Diver and the moral ambiguity surrounding the characters' choices. Many highlight the atmospheric quality of the prose, which captures the specific tension of the expatriate lifestyle during the 1920s. The work is often analyzed for its critique of the American social elite and the destructive nature of codependency. Scholars continue to debate the effectiveness of the revised chronological order versus the original publication format.