Edward D. Wood Jr., an ambitious but persistently troubled filmmaker in 1950s Hollywood, struggles to gain recognition for his avant-garde approach to low-budget films. He idolizes the horror genre and Bela Lugosi, a faded star from Dracula's heyday. Edward's unconventional directing style leads to a tumultuous career filled with disapproving critics and financial woes. Despite constant setbacks, he assembles a quirky cast and crew who share his passion and eccentricity. Throughout his journey, Ed embarks on a tumultuous romantic relationship with aspiring actress Dolores Fuller, whose initial devotion wanes as his projects increasingly miss the mark. Ed's resilience keeps him optimistic, and his unique vision gradually starts to coalesce into more concrete projects.

Ed encounters several notable figures who shape his journey, including the fame-recovering Lugosi, who becomes both a mentor and a liability due to his addiction struggles. Desperate for a breakthrough, Ed tackles production challenges head-on, showcasing a relentless determination and peculiar creativity marked by his penchant for cross-dressing. Despite mounting odds and numerous production hiccups, including ill-fitting special effects and dubious financing options, Ed’s unwavering spirit drives him forward. In his worldview, passion and dedication matter more than public or critical acclaim, making his quest for artistic expression all the more poignant as he negotiates a balance between his personal and professional life.