In 1820, the New England whaling ship Essex sets sail from Nantucket, Massachusetts, with a seasoned yet conflicted captain, George Pollard Jr., at the helm. He is accompanied by experienced first mate Owen Chase, a skilled sailor yearning for his own command, and a crew eager for adventure and the lucrative rewards of a successful whaling expedition. Amidst the challenging social dynamics of the crewmembers, the Essex ventures into the deep ocean, hunting for sperm whale oil, a highly valued resource of the time.

As the Essex pursues its quarry across the seas, the crew is tested by the harsh realities of whaling and the pitfalls of nature. Their voyage takes a perilous turn when they encounter a massive white sperm whale, evoking a ferocious struggle between man and beast. The confrontation with the gargantuan whale leads to disastrous consequences, setting the crew on a harrowing journey of survival against the unrelenting elements of the vast Pacific. Desperation mounts, and the men must confront their own beliefs, morality, and willingness to endure amidst the growing threat of starvation, thirst, and despair.