John Shaft, a Queens private detective, is approached by his old friend, Cal Asby, a mortician and insurance salesman played by Evelyn Davis, who urgently asks for his help. Almost immediately after Shaft arrives at Asby's house, a powerful bomb detonates, killing Asby and leaving Shaft to investigate the suspicious circumstances surrounding his friend's death. Despite initial police skepticism, led by the questioning Captain Bollin, played by Julius Harris, Shaft is quickly released due to a lack of concrete evidence but remains determined to uncover the truth.
Asby’s death appears to be linked to a complex web of illicit activities involving his business partner, Johnny Kelly (Joe Santos), who owes a substantial gambling debt of $250,000 to the mob boss, Gus Mascola (Joseph Mascolo). Johnny Kelly had planned to steal this money from Asby before his murder, but the cash had already been hidden, complicating the case. Before his death, Asby's residence was ransacked, and suspicious figures ran out, prompting Shaft, Kelly, and Asby’s sister, Arna Asby (Rosalind Miles), to investigate further. Kelly's suspicious behavior during this run-in raised Shaft’s concern, leading him to secretly inspect the partnership papers between Asby and Kelly, emphasizing his protective stance towards Arna.
The police captain, Bollin, reveals that Asby and Kelly were involved in a secret numbers game, operated through their funeral parlor and insurance business, which served as fronts for illegal gambling. Bollin explains that while he had looked the other way because they kept their operations relatively clean, the death of Asby threatens to attract mob takeover, especially with the impending chaos. Although Bollin suspects Shaft might be involved with gangsters, he nonetheless asks for Shaft’s assistance, and the detective agrees coolly to help.
Shaft forces one of Kelly’s runners to disclose the location of the gambling operation’s headquarters. During his raid, he is unexpectedly seduced by Rita (Kathy Imrie), Kelly’s mistress, in a moment that blends crime-fighting with a touch of personal intrigue. Meanwhile, Kelly faces pressure from Mascola, who demands a stake in the operation and payment for his loyalty. Kelly, concerned about Shaft interfering, wary about Arna’s safety, initially resists Mascola’s demands but ultimately agrees to a 50-50 partnership after Mascola promises to "take care" of Shaft.
Understanding Kelly's greed and ambition, Shaft reviews the partnership papers with Arna, explaining that her brother was genuinely trying to reinvest in their community and was preparing to buy Kelly out to pay off his debts. Shaft suspects that Kelly murdered Asby to claim control over their jointly run businesses and the lucrative numbers racket—particularly the hidden $250,000 stash aimed to pay Mascola. While engaging in a tense conversation with Arna, they are suddenly attacked—two of Mascola’s hitmen arrive intending to silence Shaft, but he outsmarts them, killing the assassins, and quickly takes Arna to his apartment for safety.
The plot thickens as Kelly approaches Bumpy Jones (Melvin Green, Jr.), a known racketeer, offering him a partnership to help break away from Mascola’s grip. Bumpy, aware of the impending turf war, demands a 60–40 split. Shaft then visits Mascola’s nightclub, which functions as a front for his gambling empire. Seeing Shaft there, Kelly attempts to double-cross both Mascola and Bumpy, suspecting Shaft's loyalty, but Mascola, suspicious of Kelly’s motives, becomes angry when Shaft uncovers that Kelly is working against him. Mascola’s men beat Shaft while he tries to deliver a message to Bumpy, urging him to stay out of Mascola’s territory. Nevertheless, Bumpy, sensing the danger, decides to join forces with Shaft amidst a tense shootout.
The pursuit reaches a climax when Shaft uncovers that Kelly has hidden the $250,000 cash in a nearby cemetery. With the help of Rita, Shaft manages to evade police and infiltrate the location just as Mascola’s men arrive in a helicopter, raising the coffin containing the money. Kelly is shot and killed during the confrontation, with the gang taking the money — a valuable cache that Shaft now controls. A high-speed boat chase ensues as Mascola’s men pursue him, leading to explosions, helicopters, and a destructive showdown. Shaft’s quick thinking results in destroying the helicopter, killing Mascola, and escaping with the money.
In the aftermath, Shaft refuses to reveal the exact locations of the stolen cash to the authorities, hinting that he plans to donate it to a child care clinic, echoing Asby’s original intentions. This act of quiet rebellion and integrity underscores Shaft’s moral code—protecting the community and fighting corruption in his own subtle but effective way. The story ends with Shaft making a statement about justice and personal responsibility, leaving viewers with a sense of triumph amid chaos and corruption.
> “You send your money, it gets there… It’s the same as if I handed it to you myself,” reflects Shaft’s quiet defiance and sense of moral purpose in a corrupt world.
