Ibara Kuro: Black Label is a revisited version of the arcade game Ibara, featuring some changes introduced in its PlayStation 2 conversion, along with further ones. While graphics, sound, characters and plot are reproduced with no alterations, gameplay and the HUD are changed. It is now possible to choose between Bond and Dyne as one's avatar, which implies choice between two different spaceships, and four different settings power-speed balance for each of the two. Holding the fire button now makes shots more powerful, while also slowing the ships.

The current player's rank, a measure of how well we are playing affecting both score multiplication and the amount of bullets fired by enemies, is now visible, indicated in a bar at the top of the screen. Extra weapons (missiles, napalm, homing missiles, sway missiles, machine gun, and burnar) are now all keepable, and switched by the press of a button (in the former version of the game, Rob and Dyne could use only the last collected one). There is an overall increase in firepower, both ours and the enemies', particularly in regards with the Guardians.

Some of the background music tracks are different.

Ibara Kuro: Black Label takes place in an alternate version of the 20th century. The steam-powered engine has recently been invented, and the Northern European country Edelweiss is at the forefront of the technological and industrial development. However, a great threat appears: the insane Dr. Theresa Rose has decided that the human race is filthy and needs to be exterminated to make place for a beautiful rose garden, and her very first target is none other than Edelweiss. She and her five daughters (Lace, Shasta, Kasumi, and twin sisters Midi and Meidi) wreak havoc across the country under the name Rose Garden, leaving the Emperor with no choice but to send out his finest: the "negotiators" Bond and Dyne, to defeat the Rose Garden and save the country.