Three years have passed since Adonis Creed's (@michael-b-jordan) defeat by "Pretty" Ricky Conlan. He has since emerged victorious multiple times, culminating in a triumphant win over Danny "Stuntman" Wheeler (@andre-ward), earning the prestigious WBC World Heavyweight Championship. Now a recognized global figure in the boxing world, Adonis decides to propose to his girlfriend, Bianca Taylor (@tessa-thompson), who accepts. However, when Bianca expresses a desire to start anew in Los Angeles, Adonis hesitates, torn between leaving his beloved Philadelphia behind and pursuing his dreams.
In the backdrop, Ivan Drago (@dolph-lundgren), the former Soviet boxer responsible for Apollo Creed's death in the ring thirty-three years ago, spots a chance to reclaim his lost glory. He plans to challenge Adonis’ title with his son, Viktor Drago (@florian-munteanu), aided by promoter Buddy Marcelle (@russell-hornsby). When Rocky Balboa (@sylvester-stallone) refuses to back Adonis in accepting Viktor's challenge, Adonis feels a profound sense of betrayal and resolves to move to Los Angeles.
Settling into a luxurious apartment near his adoptive mother, Mary Anne (@phylicia-rashad), Adonis and Bianca start their new life. Bianca soon discovers she is pregnant, which adds to Adonis's whirlwind of changes. To prepare for his impending match with Viktor, Adonis enlists the help of Tony "Little Duke" Evers (@wood-harris), his father’s former trainer. With challenges piling up, Adonis rushes into a match unprepared, resulting in a significant injury. Thankfully, Viktor is disqualified for hitting him while down, allowing Adonis to keep his championship.
As Adonis grapples with his physical and emotional struggles, he increasingly isolates himself from Bianca. Concerned for him, Mary Anne seeks Rocky’s assistance to aid Adonis during his tough times. When Rocky reenters Adonis’s life, they reconcile, and Rocky agrees to train him alongside Little Duke for a rematch against Viktor, who is under mounting pressure and brutal training from his father, Ivan.
Bianca gives birth to a baby girl, whom they name Amara. However, the joy is overshadowed by the news that she is born deaf, a condition stemming from Bianca's progressive hearing disorder. Meanwhile, Viktor's dissatisfaction with his father’s aggressive tactics grows, compounded by familial tensions as they unexpectedly reconnect with Ludmilla (Brigitte Nielsen), Viktor’s estranged mother, whom he blames for their past.
With Rocky and Little Duke, Adonis trains in a secluded, rugged setting, focusing on gritty techniques to withstand Viktor's punishing style in their upcoming rematch. As the anticipated fight in Moscow unfolds, Adonis shows remarkable resilience and strategy, enduring Viktor's fierce blows longer than expected. In the decisive tenth round, fueled by rage and determination, Adonis mounts an unrelenting assault on Viktor, knocking him down twice.
As the tide turns against Viktor, Ivan realizes the fickle nature of their supporters. In a pivotal moment, Ivan chooses to save his son from further harm by throwing in the towel, thus conceding the match to Adonis. Overwhelmed with shame but embraced by Ivan, Viktor's pride takes a hit as Adonis celebrates with Bianca and Little Duke.
Later, as Viktor and Ivan reconnect during training back in Ukraine, Rocky takes a trip to Vancouver to reconcile with his estranged son, Robert (@milo-ventimiglia), and meets his grandson Logan for the first time. Meanwhile, Adonis visits Apollo's grave, finally finding peace with his father's legacy and introducing his daughter to her grandfather’s memory, all while she wears her new hearing aid.
