A mysterious woman replacing Elizabeth as Igor's assistant after Elizabeth set off on a journey. After establishing the Social Link with her, she requests the Protagonist to create a certain Persona with a certain skill from fusion, as a euphemism for drawing out those aspects of the protagonists personality. Although she seems very composed and dignified at first glance, she actually has a silly whimsical sense of humor.

In the second playthrough and if certain conditions are met, Margaret will challenge the Protagonist's team to fight her, as she wants to discover for herself the reason why her sister abandoned her role in the Velvet Room.

She is the Social Link for The Empress Arcana.