Golden apples are disappearing from the orchard that belongs to the Tsar of the Land of Plenty, threatening the life of the Tsar and the health of the world.
The Tsar's elder sons, Peter and Dmitri, fail to catch the thief but young Ivan snatches a feather from the creature of flame. The Tsar recognises the thief to be the Firebird.
The Wise Woman of the Wild Woods tells Ivan and his brothers that the Firebird is sent by Lodgoth the Sorcerer, Tsar of the Frozen Wastes. The three brothers set off to free the Firebird and bring her back to revive their ailing father.
They come across a Raven, trapped in a tree. Ivan releases her and she tells the boys that they mustn't listen to the music of the harvest dance in the town of Valpurgis.
When they reach Valpurgis the boys stop up their ears so as not to hear the music. But a mysterious man called Zamwane tricks Peter and Dmitri into unblocking their ears. Not only do they drink and dance the night away but they also decide to stay there.
Ivan heads off alone towards the Frozen Wastes. In the Fearsome Forest, he encounters Vanya the Wolf who helps him to summon Hrothga, the Horse of the Silver Mane at the top of a moonlit mountain. They race through the Fearsome Forest to the shores of the Great Lake.
Vanya the Wolf tells Ivan that he must persuade Yelyena the Fair - who lives on the Island of Eternal Spring in the middle of the Great Lake - to marry Lodgoth the Sorcerer. But first they have to battle the Giant Water Snake that lives in the Great Lake.
Ivan meets Yelyena and persuades her that she must marry Lodgoth to save the world. Despite having fallen in love with each other, Ivan and Yelyena climb onto Hrothga's back and head for Lodgoth's Palace of Ice.
Lodgoth gives up the Firebird in exchange for Yelyena and Ivan is bundled out of the Palace by Vanya and Hrothga before he can object.
Racing through the snow back towards his father, Ivan spots something in the snow. It turns out to be Yelyena, magically rescued by Vanya the Wolf.
But Lodgoth is after them on board his winged chariot, the Dreaded Sky Slayer. A great battle ensues. The Firebird grows to giant proportions and drives Lodgoth off.
Ivan and Yelyena say goodbye to Vanya and Hrothga. They reach Valpurgis where Ivan's brothers have been all this while.
The brothers plot to steal the Firebird and claim the reward that they think must be attached. They kill Ivan, grab Yelyena and the Firebird and head off towards their father's palace.
Vanya the Wolf has sensed that something has happened to Ivan. He summons the Wise Woman of the Wild Woods who sends the Raven to fetch the Water of Life. She brings Ivan back to life.
Ivan gets back to the Palace to find his brothers trying to force the fading Firebird to warm their father. He overcomes his brothers, revives his father with the help of the Firebird, marries Yelyena and inherits the Tsardom of the Land of Plenty.