Les deux rejetons de deux royaumes enchantes s'aiment d'amour tendre et doivent s'epouser. Mais c'est sans compter sur le sorcier Alberic qui, jadis, fut banni par le roi, pere de la belle. Il enleve la princesse et, usant de ses pouvoirs malefiques, la transforme en cygne qui ne pourra retrouver sa forme humaine qu'a la lueur de la lune.
As children, Prince Derek and Princess Odette are forced to spend their summers together by their widowed parents, who hope that the two will eventually fall in love and marry, so that the kingdoms of the two will be united. As children and adolescents, Derek and Odette can't stand each other, but as young adults they begin to see each other in a different light and fall in love with each other. But one night things take a bad turn when Derek unintentionally offends Odette, who then refuses to marry him if he can't prove that he loves her for who she is and not just her beauty. Odette and her father are then attacked by Lord Rothbart, a vengeful sorcerer who was cast out of William's kingdom when he plotted against the king. In the form of a beast, Rothbart mortally wounds William, and kidnaps Odette then places her under a spell. Now it is up to Derek to rescue Odette by showing his undying love. But, will he be in time?