In the 1930s, Kit Walker is the 21st descendant in a line of masked vigilantes known as the Phantom. He takes on the mantle of his ancestors to protect the jungle island of Bengalla from various threats. When power-hungry businessman Xander Drax discovers an ancient secret that could give him ultimate power, he sets his sights on acquiring three mystical skulls that, when combined, grant unimaginable energy. After learning of Drax's nefarious plans, the Phantom must thwart his efforts to safeguard the world. Meanwhile, intrepid journalist Diana Palmer arrives in Bengalla to investigate the legend of the Phantom and finds herself entangled in the clash between good and evil.

Teaming up with Diana, Kit embarks on a globe-trotting adventure that takes them from the depths of the Bengalla jungle to the bustling streets of New York City. Along the way, they encounter dastardly villains, perilous traps, and ancient secrets. As Kit and Diana dig deeper into Drax's plot, they uncover more about the Phantom's legacy and the true power of the mystical skulls. With time running out, Kit must embrace his destiny as the Phantom to stop Drax and prevent catastrophe. The journey challenges Kit's skills, courage, and commitment to his sacred oath, leading to a climactic showdown.