游侠一(yī )条龙(王羽 饰)因夺回(huí )一笔被强盗劫去(qù )之救灾(zāi )巨款而身负重伤(shāng ),藏身于(yú )建华武馆,群盗追(zhuī )踪而至,杀死馆主,一条龙(lóng )安全逃脱,但晕倒于青木镇河边,后被小杨(许冠杰 饰)所救。小(xiǎo )杨独居河边茅屋,以养鸭(yā )为生,与一狼狗相(xiàng )依为命(mìng )。盗首梁成伦获知(zhī )巨款被(bèi )一条龙偷走,心头(tóu )愤恨,其(qí )时接获报告,知青(qīng )木园地(dì )底有丰富的矿藏(cáng ),派其手(shǒu )下往青木园开赌(dǔ )场,骗取(qǔ )镇民财产及房产(chǎn ),以便开(kāi )设矿场。一条龙伤(shāng )愈,本拟(nǐ )离青木园,得知赌(dǔ )场虚实后返回赌场,赢回巨款及镇民之房产,发还镇民,并打散群(qún )贼。梁获悉后大怒,率众高(gāo )手寻仇,但一条龙(lóng )已远去(qù )。小杨因寡不敌众(zhòng ),惨遭毒(dú )手,其狼狗颇通人(rén )性,追回(huí )一条龙。一条龙独(dú )闯虎穴(xué ),把群盗消灭。