Ulv is a top-down hack and slash that takes place during the time Christianity had taken a hold in the Scandinavian countries. The player controls Ulv, a Viking with magic powers, whose quest for the well of knowledge takes him to a Christian monastery. The player fights his way through the monastery and a large dungeon below it, battling monks and undead warriors. One monk begs for his life and in exchange agrees to guide the player through the dungeon. The main objective of the game is to reach the end of each of the three levels and the Well of Mimer in the deepest part of the dungeon. The game's context is fictional and is a mix of old Norse wood design and Christian architecture. The level layout and design are heavily inspired by similar hack and slash games.