The narrative follows the rise and fall of Jonathan Wild, a criminal mastermind whose pursuit of 'greatness' serves as a mirror for the corruption of the political elite. The protagonist operates within the grimy, lawless underworld of 18th-century London, utilizing a network of thieves and informants to maintain his status as the 'Thieftaker General.' His primary opposition arises from the inherent instability of his criminal empire and the moral scrutiny of the narrator, who maintains a detached, ironic distance. The story is presented through a third-person perspective that employs heavy irony to contrast Wild's self-perception with his actual moral bankruptcy.

Discussion often centers on the effectiveness of Fielding's irony in exposing the parallels between common criminals and high-ranking politicians. Readers frequently highlight the sharp, biting wit that permeates the text, noting how it forces a re-evaluation of societal definitions of success. Critics often point to the book as a foundational example of the satirical novel, praising its ability to maintain a consistent tone throughout the protagonist's descent. The work is widely recognized for its intellectual rigor and its refusal to offer the reader an easy moral resolution. Many readers appreciate the historical context provided in modern editions, which helps clarify the specific political targets Fielding intended to lampoon.