In the midst of the Great Depression, a down-and-out businessman, Charles Howard, acquires a small, seemingly unremarkable horse named Seabiscuit. Howard, once prosperous in the automobile industry, has endured personal tragedy and financial ruin, pushing him to seek redemption and a fresh start in the world of horse racing. Seeing potential in the underdog, Howard teams up with Tom Smith, a seasoned but unconventional trainer, and Red Pollard, a jockey plagued by his own set of challenges. Despite their initial misgivings, the trio discovers that Seabiscuit possesses an indomitable spirit and exceptional speed, characteristics overlooked by others due to the horse's unassuming stature and the men's troubled histories.

As Seabiscuit begins to compete, he captures the nation's heart, becoming a symbol of hope and resilience to many who are struggling. The team faces a series of hurdles, from skepticism and ridicule from the racing elite to the physical and emotional scars that each man carries. Their journey with Seabiscuit becomes more than just a quest for racing glory; it's a testament to the power of second chances, perseverance, and the unbreakable bond between a horse and his handlers. Through their shared trials and triumphs, the story delves into themes of redemption, the American Dream, and the notion that greatness can emerge from the most unexpected places.