Spy Fiction features game play mechanics and in-game devices designed to kick stealth-action into high gear. The game introduces the ability to steal and assume appearance, voice and other identifying characteristics, letting players disguise themselves as any character encountered in the game. Other innovations to the genre include new gadgets designed to keep game play at a fast pace, a unique arsenal of "bang-and-burn" devices, open-ended missions with multiple paths, and action-oriented puzzles such as mine detection, rappelling and parachute insertion.

Spy Fiction follows Billy Bishop and Sheila Crawford of Phantom Strike Force, a ghost surveillance unit of the Special Execution Agency, or S.E.A. A shadowy espionage agency largely unknown among world bodies, the S.E.A. employs an elite unit of operatives with access to highly advanced weapons and gadgets.