In Max Payne (2001), NYPD detective Max Payne's wife and newborn daughter are murdered by junkies high on a designer drug, Valkyr. Three years later, working undercover for the DEA inside the Punchinello mob, he is framed for the murder of his partner Alex Balder. On the run, he fights his way up the Punchinello family and discovers that Valkyr comes from a military experiment revived by Nicole Horne's company, Aesir. He kills Horne and surrenders to the police. Below, every chapter in order and the full story.

The PC version has three parts, each opening with a prologue, and 22 chapters. The console versions split them into shorter sub-chapters.
| Part | Chapters |
|---|---|
Part 1: The American Dream | Prologue 1. Roscoe Street Station 2. Live from the Crime Scene 3. Playing It Bogart 4. The Blood Veins of New York 5. Let the Gun Do the Talking 6. Fear That Gives Men Wings 7. Police Brutality 8. Ragna Rock 9. An Empire of Evil |
Part 2: A Cold Day in Hell | Prologue 1. The Baseball Bat 2. An Offer You Can't Refuse 3. With Rats and Oily Water 4. Put Out My Flames with Gasoline 5. Angel of Death |
Part 3: A Bit Closer to Heaven | Prologue 1. Take Me to Cold Steel 2. Hidden Truths 3. The Deep Six 4. Backstabbing Bastard 5. In the Land of the Blind 6. Byzantine Power Game 7. Nothing to Lose 8. Pain and Suffering |
Max works undercover inside the Punchinello crime family, which controls the Valkyr trade. His DEA colleague B.B. sets up a meeting with Alex Balder in a subway station, where Max runs into mobsters working for underboss Jack Lupino. When Alex arrives, an unseen assassin kills him and Max is framed. Hunted by the police and the mob, Max chases Lupino's right-hand man Vinnie Gognitti, finds Lupino at his nightclub and kills him, then meets Mona Sax, who drugs him with Valkyr.
Max escapes the mobsters who took him, strikes a deal with Russian mobster Vladimir Lem and seizes a shipment of weapons on the Brooklyn waterfront. After an ambush at Punchinello's restaurant, he storms the Don's manor, only to learn that Punchinello is a puppet. Mercenaries kill the Don and leave Max for dead with an overdose of Valkyr.
Max follows the mercenaries to a steel foundry hiding an underground military complex. Valkyr came from Project Valhalla, a military experiment revived by Nicole Horne through Aesir; when Michelle stumbled on it, Horne had Max's family killed. Max kills B.B., who framed him, meets Alfred Woden of the secret Inner Circle, and storms the Aesir tower. Mona, hired to kill him, refuses and is shot, but her body disappears.
On the roof, Horne tries to escape by helicopter. Max shoots the cables holding the building's antenna, which falls onto the helicopter and kills her. Max surrenders to the police, and smiles when he sees Woden in the crowd, knowing he will be protected.
Max Payne's signature mechanic is bullet time: the player slows down time to aim while dodging. It returns in both sequels.
Every character and voice actor on our Max Payne characters page. The rest of the series: Max Payne 2, Max Payne 3. Max himself, across all three games, on the Max Payne character page.