In Lunar Outpost, players work together to mine lunar elements and build a circular base on the moon. Players can choose to build a starter base, habitat colony, research center, or manufacturing facility. Each type of base is comprised of different "modules", such as a solar monitor or a machine shop, some of which allow the players to do more as the game goes on. The game also comes with a "training mission" to get new players up to speed.

Throughout the game, players need to contend with events ranging from oxygen leaks to meteorite strikes. A newly created Alexa skill serves as Mission Control, keeping track of the team's progress and announcing the special events for each round; players can also play offline using a deck of event cards