The characters of the Inuyasha manga series were created by Rumiko Takahashi. Most of the series takes place in a fictional version of Japan's Warring States period with occasional time-travel/flashback elements to modern Tokyo or the Heisei period. The setting and plot incorporate many elements of traditional Japanese folklore and religion. Its main characters (both protagonists and antagonists) include a Shintō priestess, a Buddhist monk and several types of yōkai, usually rendered as "demon" in English-language translations of the series. The anime adaptation of Inuyasha is followed by a sequel titled Yashahime, where its characters are also listed here.

Inuyasha (犬夜叉) was born of a dog-demon father and a human mother. He is an arrogant, prideful and stubborn half-demon, but has a soft side to him. He also has an older half brother, Sesshomaru, who is a full-demon with a full-demon mother. He has the appearance of a fifteen-year-old boy. As a half-demon, he had a difficult and lonely childhood, as demons and humans despised him for his mixed bloodline.

Kagome Higurashi (日暮 かごめ, Higurashi Kagome) is a brave and kind girl, the reincarnation of the Sengoku period priestess Kikyo, who believes in never turning her back on someone in trouble. Although physically weak, she is not lacking in courage. She becomes highly skilled in archery as the series progresses, and eventually learns to master her immensely strong spiritual powers. Of all characters in the series, she has the most emotional strength, never allowing anger or jealousy to commit acts of evil. By the start of Yashahime she is spiritually as strong as Kikyo, and possibly stronger given that she developed her own powers of arrow disappearance. Despite her inexperience, Naraku greatly fears Kagome's purifying powers, causing him to target her even more often than Inuyasha.

Miroku (弥勒) is an eighteen-year-old lecherous and intelligent Buddhist monk who travels the countryside performing spiritual services, such as exorcisms and demon exterminations, though he has a habit of either ripping off or outright robbing wealthy clients. Miroku can attack enemies with his khakkhara and sutra scrolls. But Miroku's greatest weapon is the Wind Tunnel (風穴, Kazaana; Wind Hole), a black hole embedded in his right palm which is actually a hereditary curse originally inflicted upon his paternal grandfather by Naraku. Due to the curse's nature to eventually kill him, Miroku sought to find himself a wife to sire children before eventually falling in love with Sango. In the sequel series, after starting a family with Sango after his curse was lifted, Miroku left his family to train himself to fight demons without his Wind Tunnel.

Sango (珊瑚) is a sixteen-year-old demon slayer (妖怪退治屋), the most skilled practitioner from her village, the original home of the Shikon Jewel. She wears traditional traveling attire or a black combat jumpsuit with pink demon-bone armor when fighting. Her primary weapon is the Hiraikotsu (飛来骨), a massive purified bone boomerang thrown with enhanced strength.

Shippo (七宝, Shippō) is an orphaned kitsune who initially tries stealing the Shikon Jewel from Inuyasha and Kagome to avenge his father's death. After they help him, he joins their group as a loyal companion. He often chastises Inuyasha for mistreating Kagome and suffers comedic retaliation for his pranks and blunt remarks. Despite this dynamic, he considers the group his surrogate family.

Kirara (雲母) is Sango's faithful companion who usually appears to be a small kitten-sized feline with two tails, but can become large enough to carry several passengers across the air whenever the need arises. She is a spiritual entity and traveled with Midoriko in the past. In the sequel series, Kirara becomes Hisui's companion while occasionally aiding Setsuna.

Towa Higurashi (日暮 とわ, Higurashi Towa) is a half-demon, the eldest daughter of Sesshōmaru and Rin, and Setsuna's twin sister. Transported to the modern era at age four by the Sacred Tree of Ages, she is raised by Sōta Higurashi before reuniting with Setsuna ten years later. In battle, she fights with a combination of sword techniques and inherited demonic powers, channeling energy through her weapon and the Silver Rainbow Pearl embedded in her left eye. Her combat style evolves throughout her journey as she learns to harness and control her growing abilities.