Anthony McCoy, portrayed by Yahya Abdul-Mateen II, is a visual artist based in Chicago, living with his girlfriend, Brianna Cartwright, played by Teyonah Parris. One evening, Brianna's brother, Troy, recounts the chilling urban legend of Helen Lyle, a white graduate student notorious for her killing spree in the early '90s, which culminated in a tragic incident involving a bonfire at the Cabrini-Green projects. It is said that she attempted to sacrifice an infant, but the community saved the child from Helen before she perished in the flames, taking her own life in the horrifying act.
In search of inspiration to rejuvenate his career, Anthony becomes fixated on this haunting tale and begins exploring Cabrini-Green. During his explorations, he encounters William Burke, played by Colman Domingo, a launderette owner who recounts the tale of Candyman. Burke shares a disturbing memory from his childhood involving Sherman Fields, a man who had been tragically wronged by the police, who mistook him for a child predator. After an incident with a poisoned candy, Sherman was brutally beaten to death by the police, leading to the urban legend that conjuring Candyman by saying his name five times in front of a mirror would summon his vengeful spirit.
Fuelled by the legend, Anthony orchestrates an art exhibit centered around Candyman, showcasing it at Brianna's gallery. However, he is disheartened by the lukewarm reception it receives. Tragedy strikes that same night when one of Brianna's coworkers and his girlfriend are murdered by Candyman after invoking his name. Their gruesome discovery the following day ignites a series of killings as more individuals fall victim to the curse, including an art critic and a group of teenagers.
Simultaneously, Anthony experiences a drastic physical change after being stung by a bee while in Cabrini-Green. The sting develops into a spreading scab, causing concern over his deteriorating health. When he visits the hospital, Anthony uncovers a shocking truth about his past: his mother, played by Vanessa Williams, reveals that he is the infant whom Helen saved from the fire. Although she wanted him to live a normal life, she never divulged the darker truth—that he was meant to be sacrificed by Candyman.
Worried about Anthony’s sudden change, Brianna recalls that he learned about Candyman from Burke, prompting her to search for him in Cabrini-Green. Upon her arrival, Burke captures Brianna and brings her to a derelict church where Anthony is in a state of disarray as he continues to transform. Burke reveals his traumatic past, detailing how he witnessed the brutal murder of Sherman and claims to have seen Sherman reemerge as Candyman, bent on revenge.
As Burke plots to have Anthony killed by the police, aiming to mold him into the new embodiment of Candyman as a symbol of vengeance rather than suffering, he grotesquely amputates Anthony's hand, replacing it with a hook. Meanwhile, Brianna escapes and bravely confronts Burke, stabbing him to death amid a chase.
In a tragic turn of events, Anthony collapses in Brianna's arms just as police arrive, having been lured by Burke’s actions. They shoot Anthony, leading to a harrowing scenario where Brianna is wrongly accused of provoking the encounter. In a moment of desperation, Brianna uses the rearview mirror of the police SUV to summon Anthony, now transformed into Candyman, who unleashes a deadly wrath upon the officers present. As the chaos ensues, Candyman takes on the visage of Daniel Robitaille and imparts one chilling command to Brianna: “Tell everyone.”
