Owen is a ten-year old boy who has just moved to a new town and left behind his best friend and everything familiar to him. Unable to face unpacking his room, Owen decides to explore the woods behind his new home. He is stunned to discover a sleeping dragon named Phineas. Owen soon gains the dragon's trust and learns that Phineas has lost the ability to fly. As he struggles to find a way for the dragon to return home, Owen learns friendship can be found in unexpected places.