Ilich Ramírez Sánchez, a Venezuelan-born militant who fought with the Palestinians in Jordan, commits a series of bombings in London. He then moves to Paris, where the PFLP (Popular Front for the Liberation of Palestine) has assigned responsibility and command of its European branch to Michel Moukharbal, "Andre", a militant Lebanese. He coordinates several operations by activists from the Japanese Red Army, in particular the taking of hostages at the embassy of France in The Hague. When Andrew was arrested, the French agents of the DST begin to address Ilich, who adopts the nom de guerre Carlos. To escape arrest, Carlos kills three policemen. Then he then joins the South Yemen leader of the PFLP, Wadie Haddad, who gives him a mission of rare audacity...

Carlos group, based in Budapest and protected by Syria, establishes ties with different customers interested in their particular expertise, such as Ceausescu's Romania and Libya. Carlos makes a fortune trafficking weapons and appears as a major figure in European terrorism. However, the fall of the Berlin Wall soon puts an end to this frantic activity. Carlos sees his supporters and his flexibility dramatically reduced. He finds refuge in Sudan, where he becomes a hunted man, being tracked by several secret services. Eventually the authorities in his home country arrest him and extradite him to France, where he must answer for his actions...