Sauron, the Dark Lord, has gathered to him all the Rings of Power. All he lacks in his plans for dominion is the One Ring - the ring that rules them all - which has fallen into the hands of the hobbit, Bilbo Baggins. Young Frodo Baggins finds himself faced with an immense task, as his elderly cousin Bilbo entrusts the Ring to his care. Frodo must make a perilous journey across Middle-earth to destroy the Ring and foil the Dark Lord in his evil purpose.