In the heart of Italy during the interwar period's rise of fascism, a lonely woodcarver, Geppetto, mourns the loss of his son in a tragic accident. In his sorrow, he carves a wooden puppet from the same tree his child's memorial stands by, in an impossible wish for a second chance at fatherhood. One night, as Geppetto grieves, a magical event breathes life into the wooden figure, giving it a sentient, mischievous spark. The wood sprite who bestowed this miracle on the puppet mandates that it can become a real boy if it proves itself brave, truthful, and unselfish. Named Pinocchio, the puppet is bursting with childlike curiosity but lacks understanding of human norms and the dangers of the world.

Under Geppetto's care, the rambunctious Pinocchio embarks on a series of adventures, repeatedly challenging the woodcarver's patience and expectations. With the help of a philosophizing cricket, who tries to serve as the puppet's conscience, Pinocchio navigates the complexities of life, making friends and foes alike. His journey through a world filled with carnival-like wonders and dark threats teaches him the harsh realities beyond Geppetto's doorstep. Pinocchio's quest to earn his humanity is fraught with temptations and trials that test his burgeoning understanding of right and wrong.