Ultraman Victory is an ancient Ultra born from the power of the Victorium Stone. Ultraman Victory is the guardian of an underground race of people called the Victorians and the guardian of the Victorium Stone. He transforms using the Victory Lancer and uses Spark Dolls.

In ancient times, Ultraman Victory came from space and gave the Victorians the Victory Lancer, which a "chosen one" used to seal the Victorium Stones due to their potential to be used for nefarious desires if they fell into the wrong hands. However, when a civil war ensued between the use of Victory Lancer, Shepherdon, a peaceful monster that coexisted with them was influenced by the battle and rampaged until a Victorian used the item and becomes Ultraman Victory to stop it. Eventually, Shepherdon returns back to its former self but in the aftermath of the battle, several Victorians were banished to the other dimension, among them was Hiyori. While the remained ones forgot, Shepherdon still remembers it.

While Ultraman Victory appears under the usage of Victorians, however, some restrictions existed where only a chosen few were allowed to use its power.