The movie begins with Daniel Dravot (played by Sean Connery) and Peachy Carnehan (played by Michael Caine) as two former soldiers in India who dream of finding adventure and making a fortune. They decide to travel to Kafiristan, a remote land in the Himalayas where no European has ever been before.
After a treacherous journey, they arrive in Kafiristan and are mistaken for gods by the locals due to their white skin and advanced weapons. Dravot and Carnehan decide to play along and use their supposed divinity to conquer the land and build a mighty empire.
They succeed in uniting the warring tribes and creating a prosperous kingdom. They even marry local women, with Dravot choosing a beautiful girl named Roxanne (played by Shakira Caine, Michael Caine's real-life wife).
However, their reign comes to a tragic end when Dravot insists on marrying Roxanne in a Christian ceremony, which is considered blasphemy by the locals. They are exposed as frauds, and Dravot is put on trial and sentenced to death by the religious leaders. Carnehan manages to escape with the help of a sympathetic Kafir, but Dravot is executed by being thrown off a cliff.
The movie ends with Carnehan returning to India, struggling with guilt and remorse for their actions in Kafiristan. The story is a cautionary tale about the dangers of colonialism and the folly of believing oneself to be a god.