In Mizubaku Daibouken, you play Hipopo the Hippopotamus who must venture through a large number of enemy-packed levels in search for his missing girlfriend, as well as rescuing other hippo-like creatures along the way. The game features moving platforms, collapsible floors, boats, water-wheels, and plants that can be watered, causing them to grow and allowing you to reach much higher platforms.

Hipopo is supplied with magical water globes, which can be thrown at enemies to freeze them. Once frozen, the enemies can be kicked and destroyed completely. If idle for a few seconds, enemies will unfreeze themselves and continue their business. Every two levels is a boss that needs to be defeated in order to proceed to the next one.