In a distant galaxy, the peaceful planet of Druidia is under threat when the oxygen-rich atmosphere becomes the target of the nefarious Spaceballs. The villainous Spaceballs, led by the bumbling President Skroob and the diminutive Dark Helmet, hatch a plan to steal Druidia's precious air supply. To achieve their goal, they kidnap Princess Vespa on the day of her arranged marriage to the narcoleptic Prince Valium. Vespa, however, is not alone; her loyal droid Dot Matrix accompanies her on this unexpected detour. As the Spaceballs attempt to leverage the princess for Druidia's air, the king of Druidia scrambles to organize a rescue mission.

Enter the rogue star-pilot Lone Starr and his sidekick Barf, a half-man half-dog creature who is his own best friend; they are interstellar mercenaries traveling in their spaceship, Eagle 5. In need of cash to pay off debts to the fearsome gangster Pizza the Hutt, Lone Starr and Barf take on the mission to save Princess Vespa, offering their services to the desperate king. What follows is a high-stakes, comical journey through space involving mystical sages, magical powers, and ludicrous encounters. The mismatched team must navigate their way towards the Spaceball mothership, striving to outwit their enemies, rescue the princess, and protect the air of Druidia from those who wish to pilfer it for their own selfish needs.