Similar to other free-to-play titles like Tekken Revolution, microtransactions were offered, some of which removing the playtime limit of the game. As the existing characters no longer wore predetermined costumes and started out with only undergarments, players could customize them with various armory and other clothing parts.

In Quest Mode, players traversed the world to participate in battles which allowed them to collect raw materials and weapons the former could be used to craft better weapons for use. The game featured single-player experience modes. Two new mechanics were added: Weapon Arts, which granted each character unique attacks such as breaking through an enemy's guards and support character feature, which allowed players to temporarily borrow another player's character online. Guard Impact, while having the same properties as Soulcalibur V, no longer used a specific meter to execute. Several mechanics were no longer present in the game, however, such as the ability to ring out a character, counter hits, and Just Guard. Features such as Soul Crush and Armor Destruction first introduced in Soulcalibur IV have been retained Soul Crush could be used to make opponents drop collectible items and weapons. Players could inflict high and low horizontal and vertical attacks, block oncoming attacks, and use parries to gain a tactical advantage. Like previous games in the series, Soulcalibur: Lost Swords was a weapon-based fighting game. The game ceased operations effective in 2015. The game was also periodically updated with new content, including new events, items, and characters. It uses the same weapon-based fighting system from previous games however, several of the gameplay mechanics were changed, simplified or otherwise removed.

Released in 2014, the game is based on Soulcalibur V and is strictly single-player.

Soulcalibur: Lost Swords was a free-to-play fighting game distributed through PlayStation Network.

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