Early in the Second Age of Middle-earth, Elven smiths forge nine Rings of Power for mortal Men, seven for the Dwarf-Lords, and three for the Elf-Kings. Soon after, the Dark Lord Sauron makes the One Ring to control them all and uses it to press a ruthless bid for conquest across the land. After Sauron’s defeat, Prince Isildur takes the Ring, but his line ends when Orcs attack, leaving the Ring to lie at the bottom of the river Anduin for more than two and a half millennia. Over the ages, Sauron reclaims the Nine Rings and their bearers fall under his shadow, becoming the Ringwraiths. The One Ring is discovered by Déagol, and his kinsman Sméagol kills him to seize it for himself. The Ring twists Sméagol’s body and mind, and he becomes the creature Gollum, who carries it into the Misty Mountains. Hundreds of years later, the Ring finds Bilbo Baggins in Gollum's cave, and he brings it back to the Shire.
Decades later, during Bilbo's birthday celebration, the Wizard Gandalf tells him to leave the Ring for his nephew Frodo. Bilbo reluctantly agrees, and departs for Rivendell. Seventeen years pass, during which Gandalf learns that evil forces have learned the Ring is in a Hobbit’s possession. Gandalf meets Frodo to explain the Ring's history and the danger it poses, and Frodo leaves his home, taking the Ring with him. He is accompanied by three Hobbits, his cousins Pippin, Merry, and his gardener Sam. After a narrow escape from the Ringwraiths, the hobbits reach Bree, from which Aragorn leads them to Rivendell. Frodo is stabbed atop Weathertop by the chief of the Ringwraiths, and sickens as the journey progresses. Shortly after they meet the Elf Legolas, the Ringwraiths catch up with them at the ford of Rivendell, and are swept away by the river.
At Rivendell, Frodo is healed by Elrond. He meets Gandalf again, after the latter escapes the corrupt Saruman, who plans to ally with Sauron but also wants the Ring for himself. Frodo volunteers to go to Mordor, where the Ring can be destroyed. Thereafter Frodo sets off from Rivendell with eight companions: Gandalf; Aragorn; Boromir, son of the Steward of Gondor; Legolas; Gimli the Dwarf, along with Pippin, Merry, and Sam.
Their attempt to cross the Misty Mountains is foiled by heavy snow, and they are forced into Moria. There, they are attacked by Orcs, and Gandalf falls into an abyss while battling a Balrog. The remaining Fellowship continue through the Elf-haven Lothlórien, where they meet the Elf queen Galadriel. Boromir tries to take the Ring from Frodo, and Frodo decides to continue his quest alone; but Sam insists on accompanying him. Boromir is killed by Orcs while trying to defend Merry and Pippin. Merry and Pippin are captured by the Orcs, who intend to take them to Isengard through the land of Rohan. The captured hobbits escape and flee into Fangorn Forest, where they meet Treebeard. Aragorn, Gimli, and Legolas track Merry and Pippin into the forest, where they are reunited with Gandalf, who was reborn after destroying the Balrog.
The four then ride to Rohan's capital, Edoras, where Gandalf persuades King Théoden that his people are in danger. Aragorn, Gimli, and Legolas then travel to Helm's Deep. Frodo and Sam discover Gollum stalking them in an attempt to reclaim the Ring, and capture him; but spare his life in return for guidance to Mount Doom. Gollum eventually begins plotting against them, and wonders if "she" (Shelob) might help. At Helm's Deep, Théoden's forces resist the orcs sent by Saruman, until Gandalf arrives with the absent Riders of Rohan, destroying the orc army.