This iteration of the Tamagotchi virtual pet sticks to the same general formula as its predecessors; the player is charged with caring for a virtual creature and attending to its needs. This includes feeding the pet, cleaning up after its messes, giving it discipline and praise as appropriate, and keeping it entertained with games. The pet starts off as an egg, and will progress through several stages of life until it dies or reproduces. Depending on the creature's gender and how well it is cared for, it may develop into a number of different forms as it grows older.

This Tamagotchi release is the first one to allow multiplayer, which is accomplished by connecting two devices via the infrared port on top. The two Tamagotchi pets will then either exchange gifts, or play a competitive mini-game against each other. Afterwards, the two will be registered into one another's friend lists. The more two specific pets connect with one another, the more affection will build between them. Two adults of the opposite gender may fall in love and produce offspring if they reach a high enough affection level. At that point, the adult creatures will disappear, leaving the players to care for the new babies.

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