Cocky researcher Sebastian Caine is working on a project to make living creatures invisible. Determined to achieve the ultimate breakthrough, Caine pushes his team to move to the next phase — using himself as the subject. The test is a success, but when the process can't be reversed and Caine seems doomed to future without flesh, he starts to turn increasingly dangerous.
Based on the 1930's comic strip, puts the hero up against his arch enemy, Shiwan Khan, who plans to take over the world by holding a city to ransom using an atom bomb. Using his powers of invisibility and "The power to cloud men's minds", the Shadow comes blazing to the city's rescue with explosive results.