Hagen von Tronje, the Burgundian master-at-arms, holds his troubled kingdom together while hiding his dark past. The arrival of the unpredictable dragon slayer Siegfried threatens to upend the old order. As King Gunter seeks Siegfried's help to win the fierce Valkyrie Brunhild, Hagen faces a tragic choice between loyalty to the king and his own identity.
Because she regrets that she has been given up her child for adoption, a young woman sets out to find her now six-year-old daughter. When she finds the girl again, she cannot bear the fact that her daughter does not recognize her, and so she makes a momentous decision.
Burgundy is surrounded by enemies. Siegfried's arrival sparks new hope, but King Gunther is hatching a dangerous plan. Much to the displeasure of master-at-arms Hagen, who is secretly in love with the king's daughter Kriemhild.