Disillusioned knight Bowen (Dennis Quaid) befriends Draco (Sean Connery), the last of the dragons, and the two begin scamming village folk as Bowen repeatedly "kills" Draco for money. Bowen soon learns that Draco is the same dragon who once saved his former student, now King Einon (David Thewlis), from death by giving him a piece of his heart. Einon is now a merciless tyrant, and Bowen is compelled to stop him -- but the bond between king and dragon means if one dies, the other does as well.