A terrifying encounter with an escaped convict proves to be a pivotal event in Pip's childhood, as are his enforced visits to the eccentric Miss Havisham and her ward, Estella. Estella is proud and rude, but exceptionally beautiful, and she mocks Pip for his humble status so that he longs to be rich and educated, as she is.

Estella is now a beautiful young woman. Brought up by Miss Havisham to wreak havoc on men, she cruelly rejects Pip's advances, and Pip is further devastated when Magwitch, the convict he helped as a young boy, reveals himself to be his mysterious benefactor, having returned to see how Pip has spent his money.

Pip wants nothing to do with Magwitch and rushes to confront Miss Havisham. At Satis House he learns that Estella may be lost to him. Back in London Wemmick warns him that the penalty for Magwitch's return from Australia will be hanging. Now Pip must help him escape.