On a cold Christmas Eve, miserly Ebenezer Scrooge, portrayed by Scrooge McDuck, dismisses the festive spirit and those in need, including his underpaid employee Bob Cratchit, played by Mickey Mouse. Scrooge shuts out the warmth and joy of the season, rejecting charity collectors and showing disdain for his cheerful nephew Fred. That night, Scrooge is visited by the ghost of his former business partner, Jacob Marley, who warns that Scrooge's greed and selfishness will doom him unless he changes his ways. Marley foretells that Scrooge will be visited by three spirits who will guide him towards redemption.

As the clock strikes one, the Ghost of Christmas Past arrives, showing Scrooge scenes from his own history that reveal how he grew from an innocent boy into an avaricious man. Scrooge is then confronted by the lively Ghost of Christmas Present, who reveals the joy and hardships of those around him during the holiday season, including the Cratchit family, whose love and struggle with poverty touch Scrooge deeply. The journey set forth by these spirits begins to unravel the layers of Scrooge's hardened heart, setting the stage for a final revelation and potential transformation.