The Golden Voyage of Sinbad is the story of a swashbuckling hero on a journey to locate the mythological fountain of youth. The story takes place at a time when Sultans ruled in the Middle East and their courts were filled with dancing harem girls and sword-carrying warriors. Sinbad's quest begins when he has a strange dream brought on by an amulet he found and now wears around his neck. Sinbad's dreams show him a man dressed in black and a strange girl with the tattoo of an eye on her palm. The journey leads Sinbad to meet a man who wears a mask over his face. This man informs Sinbad that the amulet he wears is actually one of three items that make up a map which shows the location of the fountain.
The movie is a fantasy which has elements of action and adventure. The fantasy is found in the strange mythological creatures Sinbad encounters on his journey to locate the other two pieces of the map. On one occasion the figurehead of a woman attached to the front of Sinbad's ship comes alive, and he has to fight her. He also travels to a land where he needs to fight a animated statue with six arms, a centaur with one eye and a griffin. Throughout his journeys, Sinbad also comes across people who possess magical skills and others who have knowledge which can help them.
The two remaining pieces to the puzzle which will form a map when joined with the amulet are reported to show a location somewhere in the hidden land of Lemuria. Every time Sinbad gets close to recovering one of the pieces, he is met with an obstacle which he needs to overcome in order to obtain the piece of the puzzle. Even at the end of his journey when he locates the fountain of destiny, he ends up in a sword battle with the strange masked man.