1940年代的上海,自小受尽欺辱的街头混混阿星(周星驰)为了能出人头地,可谓窥见机会的缝隙就往里钻,今次他盯上行动日益猖獗的黑道势力“斧头帮”,想借之大名成就大业。 阿星假冒“斧头帮”成员试图在一个叫“猪笼城寨”的地方对居民敲诈,不想引来真的“斧头帮”与“猪笼城寨”居民的恩怨。“猪笼城寨”原是藏龙卧虎之处,居民中有许多身怀绝技者(元华、梁小龙等),他们隐藏于此本是为远离江湖恩怨,不想麻烦自动上身,躲都躲不及。而在观战正邪两派的斗争中,阿星逐渐领悟功夫的真谛。Set in Canton, China in the 1940s, the story revolves in a town ruled by the Axe Gang, Sing who desperately wants to become a member. He stumbles into a slum ruled by eccentric landlords who turns out to be the greatest kung-fu masters in disguise. Sing's actions eventually cause the Axe Gang and the slumlords to engage in an explosive kung-fu battle. Only one side will win and only one hero will emerge as the greatest kung-fu master of all.