In the film, the story follows the life and career of Clive Candy, a British Army officer, from his impetuous youth at the turn of the 20th century through to his elder years during World War II. It begins with Candy as an old man, then flashes back to his early military exploits during the Boer War, where his sense of honor and chivalry shape his actions. He carries these values with him into the First World War, where his bravery earns him a reputation and accolades, but also reveals the beginning of a separation between his old-fashioned sense of warfare and the harsh realities of modern combat.

As time progresses, Candy's personal life intertwines with his military career. He forges a lasting friendship with a German officer, Theo Kretschmar-Schuldorff, whom he first meets as an adversary in a duel. This rivalry-turned-friendship endures the tumult of history as the two men witness the world changing around them, with Candy struggling to reconcile his ideals with the evolving nature of war and honor. Meanwhile, he encounters Edith Hunter, and the nature of his relationship with her, as well as the women who bear a striking resemblance to her, provides a tender counterbalance to the grand sweep of his military life.