1900年，科学的发展还未能遮盖魔术的神秘感，维也纳的人们对艾森海姆（爱德华·诺顿 Edward Norto饰）的魔术更是达到了痴迷的状态。这个神奇的魔术师总是能把现实和虚幻的东西混为一体，让人坠入云里雾里，怀疑他是否真的具有超能力。而台下的乌尔侦探，更是想从艾森海姆每一场的表演里看出幕后的真相。 　　一天，一位上台接受挑战的女子令艾森海姆大为震惊——她就是自己往日的恋人苏菲（杰西卡·贝尔 Jessica Biel 饰）。他们曾经因为等级门户之故被迫分开，而如今，苏菲将成为王储的妻子。尽管这样，二人还是旧情复炽，无法自拔。当苏菲打算放弃一切跟爱森海姆私奔时，悲剧却发生了,她离奇死去，所有证据都表明凶手就是由爱生恨的王储。真相似乎已经大白，但是魔术师的世界亦真亦幻，实情也随之扑朔迷离。In late nineteenth century Vienna, renowned illusionist Eisenheim is reunited with the Duchess von Teschen when she is volunteered from the audience to participate in an illusion during one of his performances. Despite having not seen each other in fifteen years when they were teenagers, they almost immediately recognize each other as Eduard Abramovich and Sophie von Teschen, they who had a doomed romance at that time due to their class differences. The Duchess is soon to be wed to the Crown Prince Leopold in what would be for him a marriage solely in pursuit of power: overthrowing his father, the Emperor Leopold, as well as overtaking the Hungarian side of the empire. The Crown Prince is known to use violence against women if it suits his needs or purposes. As such, the Duchess, who realizes that she still loves Eisenheim and he her, can never leave the Crown Prince without it jeopardizing her life. After Eisenheim humiliates the Crown Prince at a private show which results in an incident between the Crown Prince and the Duchess, the battle between Eisenheim and the Crown Prince moves into the public performance realm, which many believe demonstrates Eisenheim's supernatural powers. Much of the work for the Crown Prince in the battle with Eisenheim is conducted by Chief Inspector Uhl, who would become the Chief of Police under the Crown Prince's reign. As such, Uhl may have ulterior motives in turning a blind eye to any unlawful act of the Crown Prince against Eisenheim or the Duchess.