In the enchanting realm of Belogorie, a fantastical take on Ancient Russia, the tale follows the determined Sorceress Varvara, who is on a relentless quest to capture Alyosha Popovich, a figure she believes to be the last of the legendary Bogatyrs or warriors. Her magical powers allow her to petrify him before banishing him to the depths of the sea, where countless other helpless victims lie trapped.
In the bustling, modern streets of Moscow, we meet Ivan Naydenov, a young orphan played by Viktor Horinyak, who navigates life through a series of cons. Posing as a "white mage," he finds himself participating in sham psychic contests and performing dubious rites for unsuspecting clients. However, Ivan begins to question his choices when he is asked to help a comatose boy, leading him to ponder the direction of his life.
One fateful day, while fleeing from an irate client's husband, Ivan unexpectedly finds himself transported to the mystical Belogorie. This enchanting world is teeming with characters and creatures inspired by cherished Russian fairy tales. Here, a volkhv appears before him, declaring Ivan to be the long-lost son of Ilya Muromets, hidden away on Earth many years prior.
However, Ivan's adventure takes a perilous turn as he is captured by Varvara's formidable warriors and brought before Dobrynya Nikitich, a friendly prince who surprisingly keeps him imprisoned in Varvara's dungeon, unbeknownst to his wife. Within the confines of this dark cell, Ivan encounters a disembodied Koschei, who unveils the existence of the potent Sword Kladenets—the only means for Ivan to return to Earth. Koschei shares his own plight, explaining that he had previously wielded Kladenets to attain immortality, but was subsequently overthrown and imprisoned by the Bogatyrs. After the victory of the forces of good, many magical beings suffered the same grim fate, and should Ivan truly be Ilya’s son, he has the chance to uncover the Sword, revive the magical creatures, and find a way back home.
Amidst the chaos, the infamous Baba Yaga also finds herself imprisoned, yet her capture is part of a calculated plan; she has cleverly brought Vasilisa the Wise in frog form, who effortlessly aids in their escape. Along with the merman Vodyanoy, the group embarks on a mission to locate the Sword. During their journey, Koschei shares Vasilisa's tragic tale—how jealousy from Varvara led to her village's curse, transforming its inhabitants into frogs. Despite forming a connection with Vasilisa, Ivan remains torn between his new friends and his desire to return to his own world.
As fate would have it, Varvara eventually lays her hands on Ivan once again, petrifying Vodyanoy and coercing Ivan into retrieving the Sword for her, while holding his companions in captivity. Ivan manages to, against all odds, secure the Sword and confront his foes, only to discover that Koschei is in cahoots with Varvara. Adding to the betrayal, Dobrynya reveals himself as the true mastermind, intending to exploit the Sword to achieve immortality akin to Koschei's. Seizing the opportunity, Dobrynya betrays Koschei, and in a whirlwind of chaos, Ivan wields the Sword to flee back to Earth.
Back in Moscow, Ivan grapples with his feelings for Vasilisa and resolves to return once more to Belogorie. Finding the volkhv again, he journeys back to the magical land. To turn the tide, he frees Zmey Gorynych and, armed with a modern handgun, navigates a treacherous path to Dobrynya, who has since achieved immortality and is poised to execute both Vasilisa and Baba Yaga. In a desperate bid for time, Ivan uses Gorynych as a distraction and challenges Dobrynya to a duel. Here, Dobrynya reveals his envy towards Ilya, which had sparked his betrayal of the Bogatyrs.
In a twist of fate, Koschei seizes the magical stone. Witnessing the selfless bravery of his companions, he chooses to shatter it, sacrificing himself and Dobrynya in the process. As Varvara flees from Belogorie, the petrified souls return to life, including Ilya, who joyfully reunites with Ivan. Choosing love over deceit, Ivan opts to remain in Belogorie and weds Vasilisa, while making a quick trip back to Earth to help the comatose boy.
In a mid-credit scene, audiences glimpse Varvara on Earth, meeting her mother Galina, Ivan's housekeeper. With their previous scheme to enthrall Dobrynya having failed, the duo contemplates new avenues to manipulate their ambitions in Belogorie.