New Game Plus is a mode that allows you to play through Lost Odyssey again with special bonuses after finishing it at least once.
After the credits, you are given the chance to save your game. Doing so and loading this save file will begin the game again with two differences:
- All Immortals start at level 50
- A compass-shaped icon appears on the save file
Nothing carries over to New Game Plus from prior playthroughs; you must relearn all skills and reacquire all equipment. However, having several party members at level 50 is a considerable advantage, especially during the beginning sections of the game where some early bosses (most infamously, Grilgan) could otherwise pose a serious threat.