In
the time of
medieval fantasy populated by fantastic creatures, the Green
Wizard Carolinus, who presides over
nature including the plants and animals, notices that magic is fading from the world as humanity embraces
logic and
science instead. Summoning his three magical brothers, he proposes combining their powers to create a "last realm of magic" as a
nature reserve for the fantastic creatures hidden from the rest of the world. The Blue Wizard Solarius, who commands the heavens and seas, and the Golden Wizard Lo Tae Zhao, whose realm is light and air, agree to the proposal. However, the Red Wizard Ommadon, master of
black magic, resolves instead to infect mankind with
vices; causing humans to use their science to destroy themselves through their
arrogance,
greed,
jealousy and
prejudice. Since the wizards are forbidden to fight among themselves, Carolinus proposes sending a group of heroes on a quest to steal Ommadon's crown, which is the source of his power. The party includes the
knight Sir Orrin Neville-Smythe and Carolinus' young
dragon companion Gorbash. Solarius gives them an enchanted
shield - The Shield of
Saturn, which can deflect dark magic, and Lo Tae Zhao contributes a magic
flute - The Flute of
Olympus, which lulls dragons to sleep. Requiring a leader, Carolinus consults the magical force of Antiquity, which directs him to look 1,000 years into the future to find a man of science descended from a legendary hero. In the 20th century
Boston, Carolinus locates Peter Dickinson, a former
scientist turned
board game designer who is obsessed with dragons. Carolinus brings Peter back through time and enlists him in the quest, and Peter becomes enamored of Carolinus' ward,
Princess Melisande. Ommadon sends his dragon Bryagh to capture Peter, and an accident with one of Carolinus' spells while rescuing him causes Peter to merge with Gorbash, Peter's mind taking over the dragon's body. Knowing nothing about being a dragon, Peter is mentored by Carolinus' elder dragon companion, Smrgol. The dichotomy of magic and science is explored when Smrgol teaches Peter how dragons fly and breathe fire, abilities which Peter is able to explain with scientific principles. As the quest progresses, the heroes survive an attack by the monstrous Sandmurks and are joined by the noble
wolf Aragh, the
archer Danielle, and the
elf Giles. As the party nears Ommadon's realm, Danielle and Sir Orrin are captured by an
ogre. Peter is nearly killed attempting to rescue them but is saved by Smrgol, who defeats the ogre at the cost of his own life. In the Red Wizard's realm the party faces the Worm of Sligoff, which Peter destroys by igniting the
sulfuric acid it excretes. Ommadon casts a spell to induce hopelessness in the group, which Peter repels using Solarius' shield. Ommadon next sends numerous dragons to kill the heroes, but Giles plays Lo Tae Zhao's enchanted flute, lulling them and Peter to sleep. Bryagh remains awake and kills Giles, Aragh, and Danielle. Sir Orrin slays Bryagh, but dies from his wounds. When Ommadon appears on the battlefield, Peter manages to separate himself from Gorbash by recalling the principle of
impenetrability. He is able to defeat Ommadon by countering the wizard's declarations of magic with explanations of science and logic, and denying the existence of magic. This destroys Ommadon, restores the other heroes to life, and allows the magical realm to take shape. Peter, having denied all magic, is separated forever from this realm, but not before awakening Melisande with a kiss and leaving her Ommadon's crown. Having fallen in love with Peter, Melisande begs Carolinus to allow her to join him. Back in 20th century Boston, Peter is selling the magic shield to a
pawnbroker when Melisande enters the shop carrying the crown, and the two embrace. == Voice cast ==