The narrative follows the turbulent life and social ascent of Peregrine Pickle, a man defined by his relentless pursuit of status and his penchant for elaborate, often cruel, practical jokes. Driven by a volatile temperament and a desire to navigate the rigid hierarchies of 18th-century British society, Peregrine encounters a series of obstacles ranging from familial disputes to romantic entanglements. The protagonist frequently clashes with authority figures and rivals, utilizing his wit and resources to manipulate those around him. The story is presented through a third-person perspective that maintains a critical distance from the protagonist's often questionable moral choices, highlighting the absurdity of the social conventions of the era.

Discussion often centers on the moral ambiguity of the protagonist, as readers frequently debate whether Peregrine serves as a sympathetic figure or a cautionary example of unchecked ego. Critics highlight the novel's stylistic reliance on caricature and its effectiveness in exposing the hypocrisies of the Georgian era. Many readers note that the pacing is intentionally uneven, mirroring the chaotic and often unpredictable nature of the protagonist's life. The work remains a significant example of the picaresque genre, valued for its sharp wit and its unflinching look at the social mechanisms of the time.