During the Spanish colonial rule in South America, the people suffered from heavy taxes and levies. The new governor Miguel was killed on his way to take office. When he died, he handed the official seal to his friend Don Diego (Alain Delon), "Europe's No. 1 Swordsman", to inherit his will. Three months later, the new governor suddenly appeared, but he seemed to be a noble dandy, and everything was done by others. At the same time, folk legends say that a masked black man descended from the sky, policing evil and punishing traitors, helping the strong and the weak, and the reputation of "Zorro" spread far and wide, causing great headaches for the colonists, and the identity of the new governor was even more suspicious. Diego, who was both the governor and a knight, fought bravely with the brutal Colonel Huerta, and finally killed the villain at the wedding where Huerta forced Otonsia to marry, eliminating great harm for the local people. Zorro bid farewell to the good girl Otonsia and New Aragon. Zorro, the chivalrous man who upholds justice and pursues freedom, once again mounts his chestnut horse to do good deeds...