In this game, players control Ozzy who was forced to land his spaceship on a planet after it ran out of fuel. The aim is to search the planet for diamonds (which make up the fuel for the ship), and bring it back to the spaceship. While on the lookout, Ozzy will encounter aliens that can be defeated with his boomerang. Ozzy can explore further underground but his air supply slowly depletes as he spends more time there, but it gets replenished once he is back outside. One of Ozzy's lives are lost if he touches an alien or hazard, falls long distances, or runs out of air.
A sequel to this game was planned, entitled Ozzy Versus the Universe - Part II: Cobbler. However, this never got past the development stages.