When aspiring knight Gareth goes in search of a fallen comet rumored to contain gold, he is shocked to instead find the dragon Drago. After Drago saves Gareth's life the two become intricately bonded, and must work together to defeat an evil sorcerer and stop his reign of terror. Along the way, Gareth learns the true meaning of being a knight in this fantasy action-adventure for the ages.

When Geoff, an orphaned stable boy (Chris Masterson), discovers Drake (voice of Robby Benson), the world's last living dragon, he realizes that his dream of becoming a knight in shining armor can now come true. Together, they soon face challenges that turn them into heroes. But caught up in the excitement of their new lives, Geoff and Drake fail to see the hidden dangers that surround them.