In the peaceful Shire of Middle-earth, young hobbit Frodo Baggins inherits a seemingly innocuous ring from his elderly cousin Bilbo Baggins. However, the wizard Gandalf reveals that this is no ordinary ring—it is the One Ring, an instrument of unimaginable power forged by the Dark Lord Sauron to bend all of Middle-earth to his will. When it becomes evident that Sauron's forces are mobilizing to search for the ring, with the intent to restore Sauron to his full might, Frodo accepts the perilous task of taking the ring to the fires of Mount Doom, where it can be destroyed. He is joined by his loyal friends, fellow hobbits Sam, Merry, and Pippin, who decide to share in Frodo’s dangerous quest.

Setting out from the Shire, the quartet quickly encounters danger, leading them to the elven haven of Rivendell. Here, representatives of Middle-earth's various peoples—the humans Aragorn and Boromir, the elf Legolas, the dwarf Gimli, and Gandalf—come together and form the Fellowship of the Ring. This unlikely alliance pledges to protect Frodo on his journey to Mordor, the land where Mount Doom lies. As the Fellowship commences their trek across diverse and treacherous landscapes, they must contend with external threats from Sauron's minions and internal strife sparked by the ring's corrupting influence, which tests the bonds of their alliance and the resolve of their mission.