In the depths of the Great Depression, a fiery young orphan girl lives a life of misery at the Hudson Street Orphanage under the tyrannical supervision of the drunken caretaker, Miss Hannigan. Despite her surroundings, the girl maintains a hopeful disposition, dreaming of the day her parents, who left her with only a half of a locket as a clue to their identity, will return for her. Her life takes an unexpected turn when Grace Farrell, the kind-hearted secretary to the wealthy industrialist Oliver Warbucks, arrives at the orphanage in search of an orphan to invite to Warbucks’ mansion for a week as a public relations gesture.

The girl quickly charms the initially reluctant billionaire with her pluck and positivity. Warbucks, finding himself genuinely fond of her, decides to help her find her real parents by offering a substantial reward. This sets off a frenzy as opportunists and swindlers come out of the woodwork to claim the prize, with Miss Hannigan and her con-artist brother scheming to use their inside knowledge of the locket to their advantage. As the search intensifies, the bond between the girl and Warbucks strengthens, the former seeing a glimmer of hope for the family she's always wished for and the latter discovering the joy that was missing from his opulent yet empty life.