Faust is in despair: he has achieved everything, yet nonetheless believes he has missed out on life. He wants to start all over again, and summons the devil to help him. The devil offers him a contract: in this world, he will be Faust’s servant, in the next, his master. Faust signs and embarks on a new life.

At a party he accosts a young woman, Marguerite, but she gives him short shrift. Faust is enraptured by her beauty and naïveté. The devil wards off a rival, Siébel, whom he terrifies with the prophecy that any flower he touches will wither.

Siébel wants to bring a bouquet of flowers to Marguerite’s room, but it withers in his hand. He realises what is happening and understands who the strange man at the party was. Siébel decides to tell Marguerite everything.

With the help of the devil, Faust has found his way into Marguerite’s apartment. While the devil procures a gift for Faust’s beloved, the latter immerses himself enthusiastically in her world, in whose poverty he believes to have found true riches.

Marguerite cannot free herself of the thought of the good-looking and presumably wealthy young man who approached her so unexpectedly. She discovers the diabolical present that Faust has left her, puts on the sparkling jewels and enjoys her apparent transformation into a rich woman.

Marguerite’s neighbour, Marthe, is about to take her to task about the surprisingly precious gift when the news of her husband’s death reaches her. The shock is short-lived; the widow soon takes a shine to the attractive messenger. To ensure that Faust and Marguerite come closer, the devil engages in a flirtation with the older woman. Siébel makes several attempts to tell Marguerite about his experiences, but does not achieve his objective.

Faust and Marguerite profess their love. After protracted, fearful hesitation, she finally yields to his urging. The devil is triumphant.

Marguerite is carrying Faust’s child. He has abandoned her. She is ostracised in the town, and even Siébel can no longer help her.

Soldiers are returning from the war, among them Valentin, Marguerite’s brother. Marguerite seeks protection and consolation in the house of God, but only the devil answers her prayers – with the threat of hell’s eternal torments.

Faust’s guilty conscience drives him to Marguerite’s house. The devil provokes Valentin into fighting a duel with the man who has dishonoured his sister, and conducts the struggle in such a way as to make Faust a murderer.

Marguerite has killed her child and is awaiting execution in prison. With the help of the devil, Faust wants to free her, but she refuses him and goes to her death.