During October 30th, the villains kill Eric Draven and his fiancee girlfriend Shelly Webster. The two heroes were to be married the next day on Halloween. Investigating their deaths, Sergeant Albrecht meets a person named Sarah, who was a close friend of both Eric Draven and Shelly Webster because Sarah's own mother was an absentee parent. Exactly one year later, the supernatural crow bird arrives at Eric Draven's grave. The crow bird resurrects Eric Draven from the dead.

As the super hero named The Crow, Eric Draven regains his memories from his previous life and he begins to remember that he and Shelly Webster were attacked and killed. As a result, Eric Draven decides to seek revenge on the killers. The crow bird leads Eric Draven to the location of one of the bad guys called Tin Tin. The two get into a fight and The Crow ends up killing Tin Tin with Tin Tin's own knives.

Next, Eric Draven goes to the pawn shop where Tin Tin sold Shelly Webster's engagement ring, which Eric Draven gave to Shelly Webster. The store owner Gideon gives The Crow the ring and then Eric Draven destroys the pawn shop, but leaves Gideon alive so that Gideon can inform the other villains that The Crow is coming for them all. In a panic and totally frightened, Gideon goes to the headquarters of the primary villain named Top Dollar.

Gideon warns Top Dollar about the resurrected Eric Draven. However, Top Dollar believes Gideon's story is foolish nonsense and Top Dollar kills Gideon for no apparent reason. Meanwhile, The Crow is hunting for the other killers. Suddenly, Eric Draven arrives at the apartment of Darla, who is the mother of Sarah. One of the bad guys called Funboy is with Darla in her apartment.

The Crow kills Fun Boy, but doesn't harm Darla and instead tells Darla to become a good and better mother for Sarah. Eric Draven proceeds to hunt for the two remaining people responsible for killing Eric Draven and Shelly Webster. These two villains are named T Bird and Skank. At a convenience store, Eric Draven captures TBird and utilizes T Bird's own car in the kidnapping while Skank chases after them in another car.

The Crow traps T Bird in his car and sends TBird flying out of control in his car, which explodes over a river. In complete terror, Skank witnesses this slaying and immediately retreats to warn Top Dollar what is happening to the villains. Top Dollar now realizes the resurrected Eric Draven is real. To consolidate his power, Top Dollar calls a meeting of all the criminal gangs in the city so that they can act so outrageously that the gods will start noticing them again.

The Crow arrives at this meeting and Eric Draven orders Top Dollar to turn Skank over to The Crow for ultimate vengeance. Top Dollar refuses this offer and subsequently Top Dollar orders all the bad guys to kill Eric Draven. A massive battle erupts with the supernaturally empowered Eric Draven wiping out the villains. Eventually, The Crow locates Skank and throws Skank out of a window.

With his mission now complete, Eric Draven returns to his grave site to be taken back to the afterlife with Shelly Webster. However, Grange captures Sarah and takes Sarah to a nearby church where Top Dollar and his girlfriend named Myca are waiting for Grange. The Crow arrives to save Sarah yet Grange shoots the magical crow bird, which takes away the invincible powers of Eric Draven.

After arriving at the grave sites of Eric Draven and Shelly Webster, Sergeant Albrecht attempts to save The Crow, who has been injured by Top Dollar. Sarah is tied up by Top Dollar, who is now moving up into the upper reaches of the church as the fight between the heroes vs. Grange and Myca ensues. Sergeant Albrecht ends up killing Grange. However, just as Myca is about to shoot Eric Draven, the crow bird attacks Myca and causes her to eventually fall to her death. Sergeant Albrecht is injured so Eric Draven goes by himself to chase Top Dollar, who is now at the top of the church.

Eric Draven and Top Dollar engage in a fight whereby Top Dollar admits being responsible for the bad guys killing Eric Draven and Shelly Webster. As final revenge, The Crow grabs Top Dollar and then gives Top Dollar all the pain suffered by the victims. This mental shock causes Top Dollar to fall and be impaled on the horns of a stone gargoyle. Sergeant Albrecht goes to the hospital while The Crow is reunited with Shelly Webster in Heaven.

At the conclusion, Sarah visits the grave sites of Eric Draven and Shelly Webster whereby the supernatural crow bird gives Sarah the engagement ring of Shelly Webster. Next, the crow bird ascends into the night sky to search for other Crow super heroes to resurrect from the dead in order for them to seek vengeance against their killers.