Frank Castle, a vigilante known as the Punisher, relentlessly continues his quest to eradicate organized crime in New York City. His war against the mob intensifies when he inadvertently kills an undercover FBI agent during a mission. Consumed by guilt, Castle considers hanging up his Punisher persona, until he learns that the slain agent's widow and daughter are in danger of being targeted by the mob as retribution. Despite the FBI's disapproval of his methods, Castle decides to protect the family and continue his mission, but now with a personal vendetta against those who caused the agent's death.

Mobilizing to take down the criminal syndicates, Castle faces a disfigured mob boss, Billy Russotti, who survives one of the Punisher’s attacks. Russotti, seeking vengeance and adopting the moniker Jigsaw, rallies his gang and assembles an army of criminals to wage war against Castle. As the city's gangsters unite under Jigsaw's command, the stakes are raised, and the Punisher must confront not only a formidable enemy but also the law enforcement agencies determined to apprehend him. The streets become a battlefield as Castle employs his lethal skills to fight a war on multiple fronts.