At its heart, the play contrasts the characters of Shylock, with the gracious, level-headed Portia, a wealthy young woman, besieged by suitors. One suitor in particular, Antonio, a merchant in Venice, must default on a large loan provided by Shylock, who insists on the enforcement of the binding contract that will cost the life of Antonio, inciting Portia to mount a memorable defense.

In this richly plotted drama, Shylock, whom Shakespeare endowed with the depth and vitality of his greatest characters, is not alone in his villainy. In fact, the large cast of ambitious and scheming characters demonstrates in scene after scene, that honesty is a quality often strained where matters of love and money are concerned. In many of the play's productions, Shylock gives such powerful expression to his alienation due to the hatred around him that, he emerges as the hero.

The suspense and gravity of the play's main plot, along with its romance, have made The Merchant of Venice an audience favorite and one of the most studied and performed of Shakespeare's plays.