A group of archaeologists, led by the wise and stern Professor Bentley, uncovers an ancient tomb in Siam, guarded by magical seals. Among the team is young radio announcer Billy Batson, who stumbles upon the secret chamber of the mystical wizard Shazam. The wizard grants Billy the ability to transform into a powerful hero by uttering the word "Shazam." As Captain Marvel, Billy is tasked with protecting the tomb’s secrets from falling into the wrong hands, specifically from a masked villain known as the Scorpion. This evil figure seeks the Golden Scorpion's lenses, which, when assembled, form a weapon of immense destruction.

Captain Marvel uses his newfound powers to fend off various attempts to steal the lenses while keeping his dual identity hidden from his fellow archaeologists. The team faces escalating threats, including acts of sabotage, double-crosses, and deadly traps. Resolution and climactic battles are set amidst a series of perilous confrontations. Captain Marvel must act swiftly and decisively to safeguard humanity from potential devastation while navigating the treacherous dynamics within the archaeological expedition.