Prospero is the rightful Duke of Milan, who (with his young daughter, Miranda) was put to sea on "a rotten carcass of a butt [boat]" to die by his usurping brother, Antonio, twelve years before the play begins. Prospero and Miranda survived, and found exile on a small island. He has learned sorcery from books secretly given to him (referred to as his "Art" in the play), and uses it while on the island to protect Miranda and control the other characters. On the island, he becomes master of the monster Caliban (the son of Sycorax, a malevolent witch) and forces Caliban into submission by torturing him with magic if he does not obey him, and Ariel, an elemental who is beholden to Prospero after he is freed from his prison inside a tree.
However, at the end of the play, Prospero intends to drown his book and renounce magic. In the view of the audience, this may have been required to make the ending unambiguously happy, as magic smacked too much of diabolical works; he will drown his books for the same reason that Doctor Faust, in an earlier play by Christopher Marlowe, promised in vain to burn his books.
The final soliloquy and epilogue in The Tempest is considered to be one of the most memorable speeches in Shakespearean literature. In it, Prospero describes his loss (magic) and his imprisonment of Caliban and Ariel. He relates his imprisonment of them to that of his own bondage, which can only be undone by the applause of the audience. Many feel that since The Tempest was the last play that Shakespeare wrote alone, Prospero's feelings echo Shakespeare's own, or perhaps even his "retirement speech".
In Tad Williams' 1995 novel Caliban's Hour, the story of The Tempest is told through the point of view of Caliban with Prospero portrayed as the villain of the story, being shown as manipulative, prejudiced with colonialistic attitudes (especially towards Caliban) and capable of murderous violence.
Based on the manga by the same name, the anime series Blast of Tempest includes a main character whose setup is similar to Prospero, a magician betrayed and abandoned on a deserted island by her followers
Melon Cauliflower by NZ playwright Tom McCrory. The play is about a man Prospero, in his late sixties who struggles to come to terms with the death of his wife, and has mistreated his daughter Miranda. 
David Warner played Prospero in the BBC Radio 3Drama on 3 production of The Tempest broadcast on 6 May 2012 as part of the Shakespeare Unlocked series on the BBC. The production included Carl Prekopp as Ariel, Rose Leslie as Miranda, James Garnon as Caliban, James Lailey as Antonio and Peter Hamilton Dyer as Sebastian, and was adapted for radio and directed by Jeremy Mortimer.