Based loosely on norse mythology, Ragnarök is the term for the "Twilight of the Gods" the final destruction of the world. Christian equivalence would be Final Judgment.
After 1000 years of peace, the wolf god Fenris Fenrir has been reborn. She seeks to find the reincarnation of Balder, the most beloved God, as the land of Midgard sinks further into anarchy. They are both key players in the coming of Ragnarok, the time when fate and free-will shall come into conflict as the very nature of the universe is forever redefined.
The story begins with the reborn wolf god Fenris Fenrir in the form of a warlock. She is searching for the main character Chaos, a swordsman suffering from amnesia and possessing skills of a Dragon Knight who happens to be the incarnation of her love, Baldur. The story follows the journey of Fenris, Chaos, Iris (a cleric who is Chaos' friend), and Loki (one of the top assassins in Midgard), who are pursued by the Valkyries, lead by the war goddess, Freya.