In classic mode, the gameplay is almost exactly like Etrian Odyssey 4. You choose a party of five of varying classes and venture into the Yggdrasil Labyrinth avoiding FOEs and completing your quests. The game also has 3 difficulty options, Picnic, Standard, and Expert. In its story mode, you have a cast of characters with predetermined classes and has a more RPG-like plot, cutscenes, and voice acting.
The game was received relatively well. On GameRankings, it has a 82.46% and on Metacritic, it has a 80. Famitsu gave the game an overall score of 36/40. In it's first week, it sold 90,267 copies in Japan.