Grad student Eric Cord's roommate and best friend Ted gives Eric a gun with silver bullets and confesses that he is a werewolf, bitten while he was working on a boat owned by Captain Janos Skorzeney. A pentagram appears on his palm a few hours before he changes. The only way to end the curse is to kill the original werewolf in this bloodline. Eric ties Ted up but he changes, breaks free and bites Eric, who is forced to shoot him. Charged with murder, Eric jumps bail and begins searching for the werewolf who bit Ted, who turns out to be Skorzeney. Eric is pursued by "...
Eric tracks Skorzney to a shadowy boatyard and begins to keep a journal. He steals a revolver and gets some silver bullets, hoping to kill Skorzney to end the curse. But Eric is captured by sailors who plan to turn him over to Alamo Joe.
Eric, wounded by Alamo Joe, is saved by a young boy fascinated by monsters, werewolves in particular. But things get hairy when Mom's abusive boyfriend starts slapping her and her son around and Eric saves the day.
Tired and worn out, Eric accepts the hospitality of an old man at his home in the woods. He becomes attracted to a young woman named Margaret, but he fears that he may be responsible for a series of brutal murders in the area.
Eric meets a good witch in the woods who offers to cure him. She gives a love potion to a girl who's boyfriend dies after taking it. The boys dad, blaming her, shows up with his buddies and burns her house down, with her in it.
Eric sets out after Janos Skorzeny following the rumors of a Bigfoot sighting. After a ferocious battle with a stronger werewolf, Eric finds sanctuary in the home with a woman named Mary who has a strange and supernatural secret of her own.
Alamo Joe catches up with Eric in a small town jail, then attempts to grill him about his lycanthropy. Eric tells him he still has hopes for a cure, but later turns into a werewolf, escapes from the jail and Alamo Joe is forced to kill him.
With Eric apparently dead in the morgue, Alamo Joe recovers from his wounds in the hospital and reevaluates his life decisions. He fears he was bitten and will now become a werewolf. Eric returns from the dead and escapes from the morgue.
On Halloween, Eric sees the pentagram appear on his hand and knows his transformation into a werewolf is imminent. He locks himself in an abandoned house, not realizing that a disfigured recluse still lives there.
Taking a job with the railroad, Eric meets and befriends a former prize fighter who was a childhood idol of his, who is on the run from the mob after he refused to throw a fight. But a bar-room brawl draws the mob's attention to the man.
In a run down hotel in a town where a slasher has killed 7 people, Eric checks in after inquiring about Skorzeny. He meets several people staying at the hotel, including a man in black who reveals that he is also werewolf born in 1468.
While working as a grounds keeper on a large estate owned by a kindly old lady, she is brutally murdered in her own home. Both her granddaughter and granddaughter's husband implicate Eric. But Eric knows he didn't do it and knows who did.
While passing through a small town, Eric is shot and buried by a deranged cop-wannabe who is murdering vagrants while impersonating a police officer. Alamo Joe catches up to Eric and Eric convinces him that the phony cop is a serial killer.
Eric comes into a town looking for Skorzany after hearing about several murders by a 'skinwalker'. He learns from a Native American medicine man that there may be a cure. In the end, Eric finds out that the cure was a lie and he moves on.
When a werewolf murders some homeless kids, Eric tracks it to a mall and finds a homeless girl living there. He runs out of silver bullets and fashions a silver crossbow arrow, slaying the werewolf. Only to find that it's the homeless girl.
Eric slays Slorzeny and discovers that he is not the head of the werewolf bloodline and his death will not cure him of the curse. He meets Professor Nicholas Remy, the ancient head of his werewolf line - the one who must die to cure Eric.
Eric feels responsible for an elderly woman who is committed to a mental institution by her daughter after she reports to the police she saw Eric in his werewolf form. He takes a job as a custodian at the institution to look after her.