The first part deals with the forging of the sword Tyrfing by the DwarvesDurin and Dvalin. They are forced to do so by Svafrlami, the king of Gardariki, but in revenge they curse the sword so that it will kill a man every time it is unsheathed, cause three evil deeds and be the undoing of Svarflami.
Svafrlami is killed in single combat with the berserker Arngrim, who takes the sword and gives it to his son Angantyr.
The second part deals with the legend of Hjalmar, Orvar-Odd and the duel on Samsø. Arngrim's twelve sons meet Hjalmar and Orvar-Odd in a duel, but the outnumbered heroes kill Arngrim's sons. However, Hjalmar has been wounded by Tyrfing and dies.
The fourth part deals with the saga of Heidrek the wise, the king of the Goths, and contains the riddles of Gestumblindi. If the killing of Hjalmar may be the sword's first evil deed, its second is the accidental slaying of Heidrek's brother Angantyr. The third and last evil deed is probably when Heidrek's slaves murder Heidrek during an expedition in the Carpathians.