Around 1820 the son of a California nobleman comes home from Spain to find his native land under a villainous dictatorship. On the one hand he plays the useless fop, while on the other he is the masked avenger Zorro.

Robin Hood (Errol Flynn) fights nobly for justice against the evil Sir Guy of Gisbourne (Basil Rathbone) while striving to win the hand of the beautiful Maid Marian (Olivia de Havilland).