Peter Parker (Nicholas Hammond), a freelance photographer for the Daily Bugle, is bitten by a radioactive spider and discovers he has gained superpowers, such as super-strength, agility and the ability to climb sheer walls and ceilings.

When a mysterious Guru(Thayer David) places people under mind-control to rob banks and threatens to have ten New Yorkers commit suicide at his command unless the city pays him $50 million, Peter becomes the costumed hero Spider-Man to stop the crook’s fiendish scheme.

Things take a bad turn when the villain hypnotizes Peter Parker into being one of the ten people to jump off a building on command.