2009年,好打抱不平的女侠飞鹰(杨紫琼)时常有惩奸除恶之举,深受市民爱戴,她的表面身份是名媛淑女鹭鹭。警察局长认为飞鹰的气焰有损警队威严,找来神探文仁(任贤齐)捉拿飞鹰。行动中,文仁巧遇师妹鹭鹭,因久未见面不知对方生活,两人重逢时他没立即将鹭鹭与飞鹰联系在一起。 某日,鹭鹭的一名追求者何聪博士遭女贼(李冰冰)绑架,鹭鹭穷追不舍,终没抵过对手,她的举动引来文仁的怀疑。文仁从何聪助手身上探究线索,断定此案与太阳国的夏木集团主席夏木俊有关。解救何聪的行动中,鹭鹭又一次显露非凡身手,文仁开始将飞鹰与她作更为丰富的一体联想,双方关系亦变得十分微妙。Lulu Wong, a rich socialite, is actually the masked vigilante Silver Hawk. She meets Mr. Man. Mr. Man is with the police, and he has been asked to arrest Silver Hawk. At first, Mr. Man does not realize that Lulu Wong is the same person he grew to respect at a kung fu school when they were both children. A professor is kidnapped. He has the secret to a computer chip that can tap the human brain, which he wants to use to assist mankind. The daughter of the CEO/founder of a cell phone company gets kidnapped by the same evil-doers. To discover the plan and stop it, Lulu Wong, as Silver Hawk; and policeman Man must do several choreographed fight scenes against henchmen, use the help of the professor's computer genius assistant, join forces, break into the bad guys fortress and save everyone.