Taking place mainly in Bogotá, Colombia, Betty La Fea is essentially a Cinderella comedy about the rise of poor, ugly 'Betty' Pinzón and the fall of rich, handsome Armando Mendoza. Armando is a very incompetent playboy with a scheme to turn a huge profit as the new President of Eco Moda, a famous clothing manufacturing company, but his scheme is doomed because of his faulty mathematics. Because Betty, his secretary (and economics wizard), is in love with him, she helps Armando deceive the Board of Directors as he loses money and brings the company to ruin.

Betty, la Fea is arguably the most successful telenovela of all time and one of the most popular television shows in the world. It is the first telenovela to have been remade worldwide and has been regarded as bringing the telenovela to new levels of success.