三位年轻的武术高手从香港的街头巷尾现身，协助弱势群体对抗不公。
Wang Jianglong (played by Yuen Wah) and his brother Wang Fuhu—scions of a martial arts family—founded the "Dragon Tiger Gate" (Long Hu Men) to teach martial arts, protect the downtrodden, and uphold justice. Wang Xiaolong (played by Donnie Yen) and Wang Xiaohu (played by Nicholas Tse) are half-brothers, both sons of Wang Fuhu. As a young child, Xiaolong was taken away from the Dragon Tiger Gate by his mother; he carried with him a dragon-shaped jade pendant, which formed a pair with a tiger-shaped pendant left with Xiaohu.
Xiaolong’s life was marked by hardship; following his mother’s death, he was taken in by a gang leader named Ma Kun (played by Chen Guantai). Xiaolong once rescued a girl named Luo Sha Nu (played by Li Xiaoran)—who would later become a subordinate to the villainous "Fire Cloud Evil God" (Huo Yun Xie Shen)—and became the great love of her life.
As time passes, the young Wang Xiaohu and his fellow disciples find themselves inadvertently entangled in a conflict between Ma Kun and the White Lion Gang. In the process, they come into possession of the "Rakshasa Token"—an object entrusted to Ma Kun by the formidable villain, the Fire Cloud Evil God. When Wang Xiaolong attempts to return the token to Ma Kun, he finds himself at odds with the despicable behavior of Ma Kun’s henchmen, leading to a violent confrontation. Amidst the chaos, Wang Xiaohu receives assistance from Shi Heilong (played by Shawn Yue), a young man with a passionate obsession for martial arts. Meanwhile, Wang Xiaohu crosses paths with Ma Kun’s daughter, Ma Xiaoling, and Shi Heilong succeeds in becoming a disciple of Wang Xianglong. Elsewhere, Ma Kun’s desire to withdraw from the underworld incurs the wrath of the Fire Cloud Evil God; in the ensuing bloody and desperate battle, Wang Xiaolong manages to rescue only Ma Xiaoling. The Fire Cloud Evil God...
