Mr. Meacham (Robert Redford), a woodcarver, delights local children with stories of a mysterious dragon that lives deep in the woods of the Pacific Northwest. His daughter Grace (Bryce Dallas Howard) believes these are just tall tales, until she meets Pete (Oakes Fegley), a 10-year-old orphan who says he lives in the woods with a giant, friendly dragon. With help from a young girl named Natalie (Oona Laurence), Grace sets out to investigate if this fantastic claim can be true.