From the mists of time comes an epic tale of daring, deception and destiny, told through the intertwined lives of two women struggling against their fates.

The legendary warrior Li Mu Bai (Chow Yun-fat) and the beautiful Yu Shu Lien (Michelle Yeoh), a woman fighter, suffer the torment of undeclared love. He is undefeatable; she, superbly skilled – and her country’s most renowned female warrior. Both have pursued justice for their people over personal fulfillment.

Entrusting Yu with his ancient sword, the mythical Green Destiny, Li Mu Bai asks that she deliver it as a gift to the revered Sir Te in Beijing. Reluctant to go without him, Yu nonetheless agrees to present the weapon to Te.

The young and willful aristocrat Jen (Zhang Ziyi) arrives in the stately Beijing with her governess (Cheng Pei Pei) after years in the western territories, where Jen’s father was Chief Magistrate. The city surrounding them is a magnificent grid of houses extending miles and miles out – a new arena for social conquest. In order to establish the family in their new homestead, Jen’s mother is keen to marry her off to a wealthy man. At home, Jen seems closest to her governess, a sinister, mysterious presence in the household.

When the exquisite Green Destiny, filled with ancient powers, is stolen, Yu investigates, and finds that the trail appears to lead to Jen. As Yu and Jen draw closer, Yu discovers that the young woman envies her independence. However, she cautions Jen, freedom has a high price. After the tragic death of her fiancé, Yu’s devotion to his honor prevents her from sharing the passion of Li Mu Bai, whom she now secretly loves.

Jen, for her part, unwilling to settle for the loveless marriage that has been arranged for her, seeks a way out – even if it means taking on the identity of the country’s most wanted criminal.

There is a reason for Jen’s restlessness, a secret in her past. Once, during a trip through the scorching desert, her caravan was ambushed by bandits. Their leader, Lo, stole her treasured comb. Thus provoked, Jen followed the man through the barren landscape, confronted him and fought him. Lo kidnapped and then released Jen, vowing that he would become an honorable man in order to marry her.

Now Jen refuses to give up her dreams of freedom – and the forbidden love that keeps them alive. On the day of her wedding, she is found missing from the bridal chamber.

Yu discovers that Jen’s governess is a notorious fugitive in disguise. There is much more to the bride-to-be than meets the eye. The governess has taught Jen to be an extraordinary fighter with dazzling, gravity-defying skills ... a worthy opponent for Yu.