«بازرس کلوزو» (سلرز)، افسر دست و پا چلفتی پلیس فرانسه، سخت در تعقیب یک سارق زبردست جواهرات گران بها مشهور به «فانتوم» است. غافل از این که فانتوم کسی نیست جز «سر چارلز لیتن» (نیون) نجیب زاده ی انگلیسی و دوست همسرش، «سیمونه» (کاپوسین)...

When legendary treasures from around the world are stolen, including the priceless Pink Panther Diamond, Chief Inspector Dreyfus is forced to assign Inspector Clouseau to a team of international detectives and experts charged with catching the thief and retrieving the stolen artifacts.

When the coach of the France soccer team is killed by a poisoned dart in the stadium in the end of a game, and his expensive and huge ring with the diamond Pink Panther disappears, the ambitious Chief Inspector Dreyfus assigns the worst police inspector Jacques Clouseau to the case.