On Paradise Island, Queen Hippolyta and her daughter, Princess Diana of the Amazons and otherwise known as Wonder Woman, are looking at a beautiful enchanted ruby. Hippolyta explains that the ruby was recently given to the Amazons for safe keeping.
As they peer into the magic jewel, the queen recounts how in the Mystic Realm of magicians, Houdini, Merlin and Count Cagliostro decided that the powerful ruby presented a threat to the Earth world. They knew that it was not wise for Earth beings to possess such a powerful gem but wondered what human could be trusted not to utilise its power? Then the Goddess Athena and Aphrodite appeared to them and told them that the Amazons could be trusted for such a purpose.
And so it came to pass and as long as it stays on Paradise Island no man or woman can control its awesome power. Wonder Woman comments that she has seen such a gem before. Her mother replies that it could only have been this one, as there is no other like it in existence. Wonder Woman recalls that the gem had once been in the possession of Sargon the Sorcerer. The gem gave him the power over all inanimate objects as long as he touched them. The origin of the gem was unknown even to him and its unusual properties caused him to be both super hero, super villain and back to super hero once again! The Justice League has now lost track of Sargon so she has no idea how he ended up losing the gem or how it came to end up in the Mystic Realm.
Just then one of the Amazons advises them that a boat approaches the island from Man’s World. They know no one can navigate through the Bermuda Triangle so it must be have wandered off course. Wonder Woman says that she will handle it and boards her invisible plane. As she heads towards the location of the boat, she sees a weird cloud spring up on the horizon. As she draws near she sees the boat below and wonders whether this boat really has just wandered off course or whether this is a calculated invasion…
Meanwhile on the boat named “Sorcerers Lost” explorer Mike Myers and his assistant Jennifer Clark look at their charts. Mike tells her that he had received instructions for this voyage by mail and the money was good so he took it! He apologises to her for not confiding but that it was part of the deal he had made. She asks him what happens now as they are out in the middle of nowhere? He replies that he does not know and that they should just wait and see.
Suddenly the weird cloud seeps in through the porthole and an apparition appears. The figure reveals himself to be Sargon the Sorcerer! He tells them that he needs them to obtain a certain object for him – a bauble that can, once in his possession, allow him to make them wealthy. Mike finds it hard to believe and so Sargon demonstrates his power by instantly transporting them up on deck.
He tells the amazed pair that on an island twenty-five miles southeast there lies a ruby. It is identical to the one he is wearing now. They must obtain the ruby and return it to the mainland where they will receive riches beyond compare. Jennifer whispers to Mike that she does not trust Sargon, but he replies that if this Sargon can pull of the sort of stunt he has just done then maybe he is for real and Mike is therefore prepared to take some risks.
Sargon tells them they have not got much time as the task must be completed before three days have passed. Just then he hears his name called and looks up to see Wonder Woman swooping down!
The sorcerer uses his magic to cause a sudden storm and the ocean to swell, trying to sweep her away. But she recovers and ties her lasso to the wildly rolling boat. Mike and Jenny hold on for life as she returns to her plane and begins to tow them to safety. But Mike sees they are being taken away from where they want to go. A shocked Jenny watches as he attempts to untie the lasso. Once free, he sets course for Paradise Island while Jenny screams at him for preventing Wonder Woman from saving them.
Meanwhile in the darkening skies, Wonder Woman suddenly realises that she no longer has the boat attached and knows that her lasso could only have come off if tampered with. She decides that although she was hoping to avoid it, she will have to come into direct confrontation with Sargon. If he is in league with the pair on the boat he must have returned as a thing of evil this time.
Down on the boat deck, the image of Sargon appears to Mike and Jennifer again and tells them that they are nearing their destination. He instructs the girl to go to the island and seek out the gem. She refuses to help in whatever evil scheme he has but Sargon uses his powers to make the deck rope coil around Mike, squeezing him tightly. She begs Sargon not to kill her lover.
Just then Wonder Woman calls to them from the wing of her hovering plane. She orders Sargon to turn the boat around and leave these waters. He warns her that she has no power over him and she replies that she would not like to test that claim, but even so she can stop the boat. With that she pushes against the hull, preventing it traveling any further. Sargon orders Jennifer to make her move now and the girl dives into the sea and swims towards the shore.
Wonder Woman leaps at Sargon but he becomes transparent and she sails through his body! Next she attempts to lasso him but once again with no effect. He laughs and tells her that she should give up because he will soon set foot upon her precious island and her power – and that of all the Amazons – will be negated!
On shore, unwitting Amazon guards help the drenched Jennifer ashore and the girl repeats what Sargon has instructed her to say. She tells them that the boat carries men to Paradise Island and that Wonder Woman is powerless to halt it. Immediately they summon reinforcements to line the beach and during the commotion Jennifer rushes to the building where the gem is stored.
She warns the guards on duty about the impending invasion by men and they rush off to join their fellow Amazon sisters. Alone, she is able to take the ruby and quickly returns to the shore where she she swims over to the boat. Wonder Woman sees her with the jewel and she realises what the sorcerer is really after – the gem – the source of his power!
But she cannot understand that if the ruby is the only one of its kind, how can Sargon’s powers still work and how can he be wearing an identical one? She suddenly has a brainwave and uses her lasso to ensnare the ruby in Jennifer’s hand. Sargon cries out and his image fades.
Having freed Mike from his bonds, she explains that the gem Jennifer stole is the only source of power of its kind. Even so, Sargon’s power was still active and his image showed he was still in possession of the jewel somehow – or rather it was in possession of him! As she lays the ruby on the deck the image of Sargon can be seen inside. His tampering with the magic forces trapped him inside the gem and subsequently on Paradise Island! Once there, his power range was limited to mortals within the Bermuda Triangle. Only if the jewel was returned to the un-enchanted mainland could he reach full, ultimate power.
With the ruby still wrapped by the magic lasso, she compels Sargon to come forth! Unable to resist the golden rope’s power of compulsion, the ruby shatters and Sargon emerges full size. He thanks Wonder Woman for freeing him and as she had deduced, it was the jewel causing his evil ambitions and he is now truly free!
She turns to Mike and Jennifer and tells the girl that she acted for love and there is therefore no punishment for her. As she begins to climb up her rope back into her waiting plane, she informs them that Sargon is a seeker and the greatest punishment for a seeker is failing to reach the goal of his quest. However, Mike Myers acted out of greed and his punishment is the greatest of all – to return home empty handed!