Princess Rosamond is a very unruly child and her parents are at the end of their wits. They summon the mysterious Wise Woman to help them in their plight but refuse to believe that they are to blame for their daughter's behavior. At the same time, the Shepherd's daughter, Agnes, is conceited and arrogant and desperately in need of correction. Through a series of events, the girls switch places and the Wise Woman must deal with both of them before it is too late. Faithfully adapted from the 1875 classic by George MacDonald, The Lost Princess is a mixture of fantasy and realism.