故事发生在江湖时代。孤儿阿飞(刘德华 饰)传说自小由鱼群抚养长大,因此身手不凡。不过阿飞却对功名不感兴趣,在渔村过着逍遥自在的生活。一次偶然机会,阿飞结识了前朝遗民燕十三(钟镇涛 饰),两日成立莫逆之交。为了帮助燕十三与兰陵国君一起从十四太子手中夺回王位,阿飞前往兰陵国救出了兰陵国君及其女月牙儿(梅艳芳 饰)。阿飞与月牙儿在逃亡过程中互生情愫,但月牙儿早已与燕十三订下婚约,阿飞只能黯然离开了他们。趁阿飞离开,十四太子调遣部队包围了燕十三他们,情况危在旦夕。A simple fisherman helps a fugitive King in a fight, and offers him refuge in a hideout near his fishing village. When the King's group is attacked by his usurper brother, the fisherman is sent to find the King's betrothed, the daughter of the Emperor, and bring her back. On the journey love blossoms between the fisherman and the Emperor's daughter. Meanwhile the King's beautiful advisor seems to be in love with him, despite the fact that she is a traitor sent to kill him by the evil brother.