Ten years have passed since the second Street Fighter tournament. Shortly after the tournament, the royalties the competitors were getting had stopped. This forced most of them to take up demeaning jobs or live mundane lives. Former wrestler turned janitor, Zangief suggests to former fighter turned cab driver Dhalsim that they need to start another tournament in New York and reunite its competitors. However, several Street Fighters, as well as some others scheme to use the tournament to their advantage.