勤亲王（刘家辉 饰）微服南下来到广东，在机缘巧合之下遇见了劫富济贫的侠盗义士何真（汪禹 饰），此时何真刚刚盗得了一批来自官府的珠宝，意气风发，于是和勤亲王之间展开了一场财富上的较量。当地官府包围了两人所在的醉仙坊，要调查珠宝的下落，勤亲王甚至何真的本性并不坏，甚至充满了难得的正义感，只是缺乏调教，于是出面替何真解决了这个大麻烦，并且顺理成章的带走了珠宝。
何真不甘心就这样眼睁睁的看着自己的囊中之物被他人夺走，于是再次来到了醉仙坊，勤亲王派出了青楼女子翠红（惠英红 饰）同何真周旋，将后者耍的团团转。
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