In Titanic, you can choose to play as Jack or Rose, and your objective is to escape the ship. The game uses the same (or similar) gameplay engine as Dragon Co.'s other platformers, although the game does control somewhat differently. You can climb up ledges by pressing up like in Prince of Persia and the B button now just makes you run faster instead of using a weapon.
Most of the levels are standard, although there a couple of levels that play somewhat differently. One stage requires you to avoid the rising water level by ascending up the floors of the ship, while the final level has you swimming up to the surface.
Oddly, the ending is completely inaccurate to the film as the Titanic seems to be fixed somehow and Jack lives at the end.