Aging wrestler Randy "The Ram" Robinson is long past his prime but still ready and rarin' to go on the pro-wrestling circuit. After a particularly brutal beating, however, Randy hangs up his tights, pursues a serious relationship with a long-in-the-tooth stripper, and tries to reconnect with his estranged daughter. But he can't resist the lure of the ring and readies himself for a comeback.

Ignacio, a disrespected cook at a Mexican monastery, can barely afford to feed the orphans who live there. Inspired by a local wrestling hero, he decides to moonlight as the not-so-famous Luchador "Nacho Libre" to earn money for the monastery -- not to mention the admiration of beautiful nun Sister Encarnación.