For 30 years, the memory of his parents' death at sea by a huge, tentacled monster has haunted Ray Reiter (Charlie O'Connell). Seeking revenge, he explores the seabed with archaeologist Nicole (Victoria Pratt), whose hunt for a sunken jewel leads Ray to the creature known as Kraken. But to survive, the pair must also face off against Maxwell Odemus (Jack Scalia), a ruthless rival determined to reach the treasure first.