The season starts out in one of Chibi-Usa's dreams. In it, she met a Pegasus in a Crystal Forest, and when she touched it, she transformed into her Princess Form. Just before the Pegasus had disappeared, it told Chibi-Usa not to tell anyone of their meeting here. Outside in a park somewhere, Usagi, Ami, Rei, Makoto, Minako, Chibi-Usa, Mamoru, Motoki, and Unazuki are all sitting on the ground getting ready to watch a solar eclipse. When the solar eclipse occured, a large circus ten floated down from the sky onto the city. Usagi, however, was the only person to see it happen, and she didn't mention it to anyone.

  Inside the dark circus tent, called the Dead Moon Circus, abnormal creatures comment on how ignorant all the humans are because they had not observed the arrival of the tent. An ugly old woman, who is called Zirconia, shows herself and then introduces a group called the Amazon Trio: Tigers Eye, Fish Eye, and Hawks Eye. She orders them to find humans with beautiful dreams so they could find the Pegasus, because the Pegasus only exists inside of beautiful dreams. The Amazon Trio are later at a bar and search through many photographs of selected humans. Hawks Eye noticed a photo of Unazuki and decided that he would search in her dreams for the Pegasus.

  Hawks Eye found Unazuki and started to extract her dream mirror. All the of Trio extract a dream mirror the same way: they yell "One" and wall appears behind the victim, they yell "Two" and chains attach to the victim's arms and legs and ties them to the wall, and then they yell "Three" and the person's dream mirror appears in front of their chest. Hawks Eye was about to look inside of Unazuki's dream mirror, but Usagi and Chibi-Usa had already transformed and stopped Hawks Eye. Hawks Eye called upon a lemure to kill Sailor Moon and Sailor Chibi-Moon. But, even the two of them could not withstand the lemure's ability. Chibi-Moon wished that someone would come to help them, and then the Pegasus appeared, which surprised Hawks Eye. The Pegasus powered-up Sailor Moon and Sailor Chibi-Moon into Super Sailor Moon and Super Sailor Chibi-Moon. He transformed their old weapons into more powerful ones and Sailor Moon was able to destroy the lemure using her new attack, "Moon Gorgeous Meditation". When the lemure was destroyed, Unazuki was released and Hawks Eye retreated. Also, Sailor Moon and Chibi-Moon's upgrades were lost and they returned to their normal sailor form.

  However, after the attack on Unazuki, Usagi and Chibi-Usa needed a new transformation so they could transform into Super Sailor Moon and Super Sailor Chibi-Moon. During an attack on Usagi's mother, Sailor Chibi-Moon prayed for the Pegasus to come and power them up once again. The Pegasus powered up there brooches and gave them a new transformation together, "Moon Crisis, Make-Up"! The Pegasus also changed Sailor Moon's Spiral Heart Moon Rod into the Kaleid-Moon-Scope, and Chibi-Moon's rod into the Crystal Carrilon permanently. Sailor Chibi-Moon could now use her "Twinkle Yell" ability to communicate with Pegasus, and Sailor Moon could now use her "Moon Gorgeous Meditation" to destroy lemures.

  After many tries, the Amazon Trio could still not find the Pegasus in any dreams they searched. However, Fish Eye discovers that the Pegasus must be hiding in Chibi-Usa's dreams because he hears her talking to Pegasus. He captures Chibi-Usa, but at the same time, finally realizes that none of the Amazon Trio have real dreams. Which is why he told Zirconia that what they were doing was wrong. Zirconia discovered that Fish Eye had been talking with Usagi earlier, so she tells Hawks Eye to get Usagi's dream mirror, because she thinks that Usagi had convinced Fish Eye to act this way. He departs, and Fish Eye follows him. Zirconia is now fed up and decides to replace the Amazon Trio with the Amazoness Quartet. Meanwhile, Hawks Eye tries to extract Usagi's dream mirror, but Fish Eye stopped him in the process. Tigers Eye also arrives to the scene. Later, the Amazoness Quartet appears and one of the girls, PallaPalla, sends forth a lemure to kill them all. Hawks Eye tries to defend them all and stop the lemure, but he is hit by the lemure's attack and dies. One of the lemure's attack also hits Usagi's dream mirror, it shatters, and she dies. Fish Eye reveals Chibi-Usa out of her captivity and convinces Tigers Eye to use all of their powers to restore Usagi's dream mirror and bring her back to life. The two of them succeeded, but died having used all of their energy. Usagi and Chibi-Usa then transformed and destroyed the lemure. Afterwards, Pegasus then purified the Amazon Trio into real humans, gave them dream mirrors, and sent their souls to a better world.

  Now the Amazoness Quartet leads the search for Pegasus. They continue where the Trio left off, by still searching throught people's dream mirrors for Pegasus. During this time, the Inner Soldiers upgrade into Super Sailor Soldiers by Pegasus; They are given new transformations and attacks to help the fight agaisnt the Dead Moon Circus. Also, Diana, the future daughter of Luna and Artemis, appears to aid Chibi-Usa. While Chibi-Usa was dreaming, she meets Pegasus again and he tells her exactly what has happened to him. (Read the Pegasus Story)

  Towards the end of the season, Queen Nehelenia, the leader of the Dead Moon Circus, takes over Zirconia's position because of her failure. She discovers that Chibi-Usa's dream mirror is the Golden Mirror, the mirror that tells that the Pegasus is hiding in the person's dream. After, Nehelenia captures Chibi-Usa and she forces the Pegasus to leave Chibi-Usa's dream mirror and return into the body of Helios. When he does, she takes the Golden Crystal from Helios' horn. With the Golden Crystal, Nehelenia is able to change Earth into a world of darkness, as the Dead Moon fully eclipses the Sun. The Sailor Soldiers finally meet Nehelenia, but their powers cannot stop her. The Amazoness Quartet realize that Nehelenia is their enemy, not the Sailor Soldiers. So they devise a plan to steal the Golden Crystal from Nehelenia and give it to Sailor Moon. But the Golden Crystal's powers were still not enough to banish the darkness. Sailor Chibi-Moon tells Sailor Moon that everyone must combine their powers to save the planet from Nehelenia. She said not just the Soldiers, but everyone on Earth must help as well. Everyone on Earth heard Chibi-Moon's message, and began to call out "Moon Crisis Power". Then, the darkness was begining to lift off of the planet, and the Dead Moon Circus Tent was destroyed.

  Nehelenia escaped toward the Shadow of the Moon with her mirror and Chibi-Moon on a large piece of the Dead Moon Circus Tent. Sailor Moon was able to follow them by grabbing onto the floating tent. While up in the sky, Nehelenia throws Chibi-Moon off of the tent down to Earth. Sailor Moon jumps off after her, and Nehelenia continues to float away toward the Shadow of the Moon. Sailor Moon changes into Princess Serenity and reaches Chibi-Moon as they fall. Chibi-Usa, who had also changed into her Princess form, pray for Helios' help. Helios transforms back into Pegasus and gives both the Princesses wings so they can safely fly to the ground. Helios later goes back to his homeworld of Elysion to protect everyone's dreams. Earth is now safe again from the evil power of Nehelenia...... or is it?