The Chorus explains that Faustus was low-born, but quickly achieved a doctorate in theology at the University of Wittenberg. However, his interest in learning and his pride soon led him to necromancy.
In the first scene of the play, Faustus expresses his boredom and impatience with the various branches of knowledge and concludes that only magic is worth learning. He asks his servant Wagner to return with the magicians Valdes and Cornelius, who have been trying to interest him in magic for some time. While he waits, he is visited by a Good Angel, who tries to dissuade him from this path, and a Bad Angel, who encourages him. Valdes and Cornelius arrive and declare that if Faustus devotes himself to magic, great things are indeed possible with someone of Faustus's learning and intelligence.
While Faustus is at dinner with the magicians, two scholars notice Faustus's absence and ask Wagner about his whereabouts. When Wagner tells them he is with Valdes and Cornelius, the scholars worry that the magicians have corrupted him and leave to inform the rector of the university.
Faustus attempts to conjure a devil, and Mephistophilis arrives. Faustus believes that he has summoned him, but Mephistophilis says that he came of his own accord, and that he serves Lucifer, and cannot do anything without his leave. Faustus questions Mephistophilis about Lucifer and Hell, and tells him to speak to Lucifer and return. The next scene is a comedic reflection in which Wagner calls two devils, with which he scares the Clown into serving him.
Mephistophilis returns, and Faustus signs a contract in his own blood: Mephistophilis will serve him for 24 years, at which point Lucifer will claim him, body and soul. Once the contract is signed, Faustus asks for a wife, but Mephistophilis declines, saying marriage is "but a ceremonial toy"; he asks for books of knowledge, and Mephistophilis provides a single book. In the corresponding comedic scene, Robin, a hostler, has stolen a conjuring book, and plans mischief with it.
Faustus begins to waver and think about God, and is visited again by the Good and Bad Angels. Lucifer arrives to remind him of his contract, and entertains him with a show of the Seven Deadly Sins. Faustus and Mephistophilis then travel Europe, eventually arriving in Rome, where they play tricks on the Pope. Next, Robin and Rafe (A version) or Dick (B version), having been caught for stealing a goblet, call on Mephistophilis, who arrives and angrily turns them into animals before returning to attend on Faustus. Faustus has been called to the court of the Holy Roman Emperor, where he and Mephistophilis conjure Alexander the Great and his paramour and give a knight cuckold's horns for being a heckler. In the A version, the emperor asks Faust to relent, and he does; in the B version a longer scene follows in which the knight and his friends attack Faustus; all are given horns. In both versions, Faustus then plays tricks on a horse dealer. Faustus and Mephistophilis then put on a magic show for the Duke and Duchess of Vanholt.
When Faustus's 24 years are nearly up, he bequeaths his possessions to Wagner. He conjures Helen of Troy for some students, and, when he starts to think of repenting again, renews his pledge to Lucifer and asks Mephistophilis for Helen as his lover. In the final scene, Faustus admits to some scholars that he has bargained away his soul; despite their prayers, the devils come for him.
