Hedvig Jensen (Pia Degermark) has been performing as a tightrope walker under the name Elvira Madigan for years. When she meets Lieutenant Sixten Sparre (Thommy Berggren) in the Danish countryside, the two fall in love and decide to run away together. Sixten, an army deserter, has trouble finding work, and the couple face hard times. Then Sixten meets an old friend who questions his choices and urges him to leave Hedvig before their life becomes even tougher.