Ethan Hunt, portrayed by Tom Cruise, is a dedicated agent of the Impossible Missions Force (IMF), operating under the direction of Jim Phelps, played by Jon Voight. The story unfolds with the team embarking on a high-stakes mission in Prague, aimed at stopping a U.S. diplomat from selling the notorious NOC list—an essential document containing the identities of all covert agents operating in Eastern Europe.
However, the mission spirals into chaos, leaving Hunt as the sole survivor. In a tense encounter at a café, he meets Eugene Kittridge (Henry Czerny), the CIA director for the IMF, who reveals a shocking truth: a mole known only as "Job" has infiltrated their ranks. The original operation was cleverly designed to expose this mole, who was expected to attempt the sale of the NOC list to Max, a notorious arms dealer known for corrupting IMF agents. To complicate matters, they discover that the NOC list Hunt was trying to secure in Prague was a fake, while the authentic list resides at CIA headquarters in Virginia. With all eyes now on him, Hunt is framed as the mole and finds himself on the run.
Returning to the IMF safe-house, he discovers that the wife of Jim Phelps, Claire Phelps, played by Emmanuelle Béart, has also survived the mission. In a risky move, Ethan begins communicating with "Max," offering to provide the real NOC list in exchange for the mole's identity. Max agrees and provides Ethan with a cash advance, which he uses to recruit a team of previously disavowed intelligence agents, including the skilled computer expert Luther Stickell (Ving Rhames) and pilot Franz Krieger (Jean Reno). They successfully infiltrate the CIA in Langley, stealing a copy of the genuine NOC list. Meanwhile, Kittridge, suspicious of Hunt, has arrested his mother and traces his location through a phone call. It's here that Hunt uncovers the shocking reality that Jim, thought to be dead, is alive.
As the plot thickens, Phelps deceptively accuses Kittridge of being the mole. However, Hunt’s investigation leads him to the startling revelation that Phelps himself is Job, the traitor within their midst. The tension escalates as Ethan and Max arrange a meeting on the TGV train headed to Paris, where Claire and Luther stay close for backup. Kittridge also boards the train following Hunt's trail. Here, Ethan makes a dangerous exchange as he hands over what appears to be the NOC list to Max, who directs him to the luggage compartment for his payment and the mole's whereabouts.
As the train hurtles forward, a frantic struggle ensues. Luther activates a jamming device just in time to thwart Max’s attempt to upload the list, while Claire, realizing the stakes, interacts with Phelps in private, revealing her involvement in the conspiracy. In a shocking twist, Ethan reveals himself by removing a mask in the luggage compartment, just as the real Phelps appears brandishing a weapon, demanding the money.
Holding onto his wits, Ethan surrenders the cash before deploying a pair of glasses equipped with a hidden camera, which broadcasts evidence of Phelps’s survival to Kittridge, thereby exposing him as the traitor. However, chaos escalates as Phelps shoots Claire and confronts Ethan. In a high-octane chase to the train's roof, Ethan fights to bring justice to light. He ultimately confronts Phelps and the accomplice Krieger, narrowly avoiding disaster as a helicopter extraction is thwarted.
In a climactic showdown, Ethan leaps onto the helicopter, using explosive gum to seal Phelps’s fate. The ensuing explosion eliminates Phelps and Krieger, with Ethan managing to escape just in time. With Kittridge now in possession of the NOC list and aware of Max’s true identity, he reinstates Luther as an IMF agent and clears Ethan of all suspicion. As Ethan flies home, a flight attendant approaches him, signaling that another mission is underway—the adventure continues.
