- Japan: February 1st, 2001 (First Edition)
- Japan: May 10th, 2011 (Second Edition)
The novel is written by Mie Takase, who also wrote the Persona 2: Eternal Punishment Novel. The book is published by Ascii Mediaworks and has no official translation past its original Japanese release. A second edition was published shortly after the release of the Persona 2: Innocent Sin enhanced port to the Sony PSP in Japan featuring artwork by Shigenori Soejima on the cover, replacing the art by Kazuma Kaneko in the original publication. Spanning 226 pages, this novel features original artwork illustrated by Ken Sugawara.
The story begins with Anna Yoshizaka reminiscing on her aspirations of being a star track runner, explaining her spiral into depression and apathy after her accident. She is then woken from her daydreaming as we are introduced to a new character, Mitsuo Shimazaki. Mitsuo is a friend of Anna's and a student at Seven Sisters High School. He informs her of the Joker game that everyone is talking about. Uninterested in rumors, Anna brushes him off, only to attempt it herself when she finds herself alone in a back alley near Club Zodiac. Anna summons Joker, not having considered the possibility that the rumor might be true, she did not have an ideal to have granted by Joker, who readies himself to steal her dreams. She however interrupts him, simply stating that she no longer dreams, she has no ideals nor aspirations she yearns to achieve. Feeling sympathy for Anna, Joker makes an exception for her and offers her to join the Masked Circle.