In Spain, during its Golden Age, a lord wishes to marry his daughter to a neighbour, but has no money for her dowry. He sends his son Ramon to a Wizard who had befriended his father, in hopes that the son would learn to turn lead to gold. The price is Ramon’s shadow but Ramon is unaware that by taking his shadow as his fee, he has also taken his soul. An elderly charwoman without a shadow works for the magician tells Ramon of the horrors which await. The Wizard persuades Ramon to trade his shadow for the knowledge but Ramon eventually steals his shadow back along with taking the Charwoman’s and returning it to her.
During their escape, the Charwoman returns to her true self, Anemone, a beautiful young woman whom Ramon falls in love. Ramon’s family make life difficult and almost persecute the two young lovers who must prove their worth and gain Ramon’s family’s acceptance.
The Wizard despairs and seeks them out, drawing all creatures of magic and legend with him to hunt them down but fails in his quest.