The novella is a poignant tale of unfulfilled love and lost opportunities, centered around the character of Reinhard, who reminisces about his childhood and youth. As a young man, he forms a deep bond with Elisabeth, a girl from his village. Despite their strong connection and shared affection, life's circumstances and Reinhard's own indecision prevent the two from uniting in love. Reinhard moves away to pursue his studies, and over time, Elisabeth marries another. When Reinhard returns to the village as an adult, he is confronted with the reality of Elisabeth's life without him and the enduring memories of their youthful love, symbolized by the idyllic setting of "Immensee," a place they both cherished. The narrative is steeped in nostalgia and the melancholy of what might have been, as Reinhard grapples with his emotions and the passage of time.

The 7171st greatest book of all time