A jester and a condemned prisoner conspire to escape the Tower of London by faking the prisoner's death, only to find themselves entangled in a web of mistaken identities and forbidden love. The opera follows the Yeomen of the Guard, tasked with guarding the Tower, as they navigate courtly intrigue and personal desires. The rigid structure of the Tower and the looming threat of execution serve as physical and logical constraints, while the characters' hidden motives and romantic entanglements drive the central conflict. The narrative unfolds through song and dialogue, typical of operatic form.

This opera, a departure from Gilbert and Sullivan's usual comedic operettas, delves into darker themes while retaining their signature wit and musicality. Critics and audiences have noted its more complex emotional landscape and intricate plot, which explores the lives of the Yeomen of the Guard with a blend of pathos and humor. The work is often praised for its ambitious scope and its exploration of human desires within a rigid, often unforgiving, social structure. Its unique position in the Gilbert and Sullivan canon, with its more serious undertones, continues to be a subject of discussion and appreciation.