A successful corporate lawyer named Peter has grown into a workaholic adult, having forgotten his magical childhood adventures as the fearless leader of the Lost Boys in a place called Neverland. Distant from his two children, Jack and Maggie, and his wife Moira, Peter’s former life collides with his current reality when his children are kidnapped one evening from their London home. The perpetrator is none other than his old nemesis, the vindictive pirate Captain Hook, who has not forgotten their past conflicts. With the help of Tinkerbell, a tiny, luminous fairy, Peter is whisked away to Neverland to face his forgotten past and save his children.

Upon his arrival in Neverland, Peter encounters the Lost Boys who have continued their carefree existence under the new leadership of a young boy named Rufio. Initially, they are disappointed by Peter's lackluster appearance and apparent lack of remembered skills. Struggling with disbelief and denial about his storied past as their iconic former leader, Peter must rediscover the youthful spirit and sense of imagination that have long been buried beneath his adult responsibilities. With Hook determined to enact his long-awaited retribution and the clock ticking, Peter is thrust into an urgent quest to regain his lost identity, rescue his children, and put an end to Hook's tyrannical rule over Neverland once and for all.