Soldier of Fortune magazine is a publication ostensibly devoted to coverage of global low-intensity warfare and terrorism on behalf of the professional mercenary. In practice SOF is read by some serving soldiers and also by so-called wanna-be's, violence junkies and pseudo-warriors. Many of its advertisers sell products oriented towards this market: military equipment, fake badges and IDs, weapons, and violent publications.

SOF is notorious for sending its journalists and purchasing independent reports from stringers covering the most dangerous and obscure parts of the world. Occasionally these on-the-spot reports are useful to intelligence professionals, but some can easily be spotted as outright fabrications. SOF maintains coverage of hot spots such as Bosnia, Afghanistan, Iraq and Palestine even when the traditional news ignores the constant low-level violence typical in such areas. SOF also covers African warfare in greater depth than almost any other publication due to the historical link between Africa and mercenary activity.

Also, SOF's editorials often take positions on controversial topics in the United States military such as the POW-MIAs in Vietnam, gender integration in the armed services, budget cuts and new weapons systems, cultural changes in the military and against communism. Sometimes these positions are unprintable in any official military publication but reflect the views of hundreds of soldiers who write letters to SOF's editorial staff.

SOF is normally on the banned list in prison due to gratuitiously violent content.