A man claiming to be an old friend of Alec's father kidnaps Alec for a set of perfect black pearls that he claims were sent years ago to Alec's mother.
After being kept in confinement for two weeks, the Black seems to have lost his spirit. Alec, refusing to give up, takes the Black to the hills, hoping that he will regain his spirit.
The daughter of the man, who willed the Black to Alec, has come to take him back to Arabia when her horses are stolen by raiders. When the Black is stolen, Alec blamed the princess, but things are not what they seem.
Catherine is engaged to a man she has only known two weeks, and there is a plot afoot to steal a million US dollars in diamonds destined for a charity/horse race benefit.
An injury to his horse prevents François, a friend of Alec's, from saving his family's farm with prize money from racing. Alec promises to race The Black instead -- but it's a steeplechase, which Alec and The Black know nothing about.
When Alec returns a very large amount of money he dramatically found in an old barn, the police question whether he has returned the full amount, and the robbers are not far behind.
Alec becomes very protective of The Black after witnessing a terrible accident resulting in the death of a horse, and he declares that The Black will never again be allowed to race.
The Black's life is threatened by the only person more feared and hated than a horse thief, a barn burner. A young woman named Nicole Berthier was blamed for the barn burning.
The Black is kidnapped by an excessive animal rights activist and will be shipped back to the Arabian Peninsula unless Alec can prove The Black wishes to stay with him. The Black finally comes back to Alec's possession after a while.
A rival stable dopes the Black and the drug makes him go wild. The owner of the rival stable hires a hunter to take out the Black. Alec and Nicole are frantically searching for the Black, hoping to reach him before the hunter does.
Alec and Henry are finally able to prove that there was a fourth stallion instead of three that began the lineage of Arabians. While Henry is away, Alec is being pursued by people hired to take him out by any means necessary.