Panty and Stocking, the "Anarchy Sisters," have been booted out of Heaven for, to put it gently, misbehaving. These angels, led by a priest named Garterbelt, must pay their way back by exterminating ghosts in Daten City. However, for these unusual angels, their mission necessitates the use of uncommon weaponry—they turn their undergarments into weapons to destroy the spirits. Unfortunately, neither of them takes their responsibilities seriously, preferring to spend their time pursuing other "hobbies": Panty wants to sleep with everything that walks, while Stocking prefers filling her face with sweets to chasing ghosts.