In the late 19th century, idealistic young lawyer John Reid returns to his hometown in Texas aboard a train carrying the notorious outlaw Butch Cavendish, who is being brought in for justice. However, Cavendish escapes with the help of his gang, decimating a company of Texas Rangers in the process, which includes John's brother, Dan. John himself is left for dead in the desert but is found and nursed back to health by Tonto, a Native American spirit warrior with a complex past. A strange bond forms between the scholarly Reid and the wily Tonto, who dubs his new companion "The Lone Ranger."

With Tonto's guidance and a symbolic mask, the Lone Ranger embarks on a quest for vengeance and justice, relentlessly pursuing Cavendish and his gang. As they trek across the American Southwest, they encounter a shady railroad tycoon, whose massive transcontinental rail project embodies the era's profound industrial changes and encroaching civilization. The duo faces a mixed reception from the people they meet, with some doubting their intentions and others inspired by their fight against corruption and greed. Their journey is fraught with unexpected trials and moral dilemmas, drawing them into a deeper conspiracy that threatens the very heart of American justice and the way of life on the frontier.