The film opens with an animated prologue revealing the origins of leprechauns, stating that they were summoned by a king to protect his gold. After the death of the king the Leprechauns returned to their places of origin, all except one (Warwick Davis) who through the ages slowly became corrupted and obsessed with the gold he still guarded. In the present, Father Jacob (Willie C. Carpenter) finds the leprechaun's gold and intends to build a youth center. Jacob manages to banish Lubdan the Leprechaun, summoning demonic hands which drag him underground, but soon after dies of injuries inflicted by the leprechaun during the fight.
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