The film depicts how the young Yue Fei learned martial arts, got his mighty weapon, and romanced his wife. Later he entered the national contest of martial arts, and had to fight his way out of a legion of challengers.
Panji Tengkorak tells the story of Panji, a master in the dark arts of silat (Indonesian martial art), who is searching for the person who had killed his wife. In his journey, Panji always disguises himself as a beggar and wears a skull mask. Even though he looked cruel, Panji is a good and loyal man.
China, year 1457. The Minister of Defense is executed, and his children are sentenced to exile by order of the tyrannical Tsao. Fearful of future revenge from the young people, Tsao sends cruel soldiers to murder them, but a brave group of swordsmen can change the course of the battle at the Dragon Inn.
