Muramasa Rebirth tells of two journeys: one made by Momohime and the other by Kisuke. Momohime has been possessed by the malevolent spirit, Jinkuro. Her soul travels with her possessed body unwillingly as Jinkuro uses her to accomplish his goals. Kisuke, a fugitive ninja on the run that has lost his memory, also finds his fate intertwined with the powerful demon blades as he comes across people from his past.
In the world of Muramasa Rebirth, the princess Momohime is possessed by an antagonistic spirit, who desires his lost legendary Demon Blade and the power it holds. In her captive state, Momohime travels West in order to accomplish the spirit's goals. With the power of the Demon Blades at her disposal, and the spirit's sword wielding prowess, demons and gods alike will experience her wrath.