时光飞逝,当年的小飞侠彼得·潘(Robin Williams 罗宾·威廉姆斯 饰)已长大成人,成为一名出色能干的律师。他与儿时的女伴温蒂(玛吉·史密斯 Maggie Smith 饰)的孙女结婚,并育有两个可爱的孩子。一家人在现实世界中幸福温馨,其乐融融。此时的彼得已忘记了自己小飞侠的身份,以及曾在梦幻岛上那惊险和快乐的时光。 在带着妻儿探望祖母的路上,邪恶的铁钩船长(Dustin Hoffman 达斯汀•霍夫曼 饰)竟然再次出现,并虏去了他们的孩子。焦急的彼得手足无措,为了拯救孩子,他必须尽快找回小飞侠的身份,回到梦幻岛与宿敌决一雌雄……Peter Pan (Williams) has grown up to be a cut-throat merger and acquisitions lawyer, and is married to Wendy's granddaughter. Captain Hook (Hoffman) kidnaps his children, and Peter returns to Never Land with Tinkerbell (Roberts). With the help of her and the Lost Boys, he must remember how to be Peter Pan again in order to save his children by battling with Captain Hook once again.