In a dystopian future Britain, ruled with an iron fist by the authoritarian Norsefire party, society is suffocated by government surveillance, repression of dissent, and the scapegoating of minorities. Evey Hammond, a young woman working at the state-run British Television Network, finds her life irrevocably changed when she is rescued from a life-threatening encounter by a masked vigilante known only as "V". V is a charismatic and skilled fighter, driven by a desire for revenge against those responsible for his disfigured appearance and the oppressive regime that has arisen in his country.

V urges the public to remember the 5th of November and rise against their oppressors, using theatrical tactics and terrorism to undermine the government's authority. Evey is initially frightened by V's methods, but as she learns more about her own government's secrets and V's mysterious past, she begins to understand his motivations. The two form an unlikely alliance, with Evey becoming increasingly involved in V's plans to incite revolution and bring down the corrupt leaders. As the 5th of November approaches, V's complex plot to inspire the people of Britain to embrace their freedom and overthrow their tyrants grows ever closer to fruition.