Space Raiders is a third-person shooter taking place after an alien invasion of Earth. The game is a spin-off of Taito's Space Invaders with similar gameplay but in a 3D destroyed city setting.

The player can take control of three characters. These are Justin, a youngster knocked out and left for dead after his friends got slaughtered while on the run from the aliens, Ashly, the camerawoman who is trying to find her boyfriend who went missing after the invasion, and Naji the policeman who lost his partner in a fight with the aliens.