Big-game hunter Sanger Rainsford and his friend, Whitney, are traveling to the Amazon rainforest for a jaguar hunt. After a discussion about how they are "the hunters" instead of "the hunted," Whitney goes to bed and Rainsford hears gunshots. He climbs onto the yacht's rail and accidentally falls overboard, swimming to Ship-Trap Island, which is notorious for shipwrecks. On the island, he finds a palatial chateau inhabited by two Cossacks: the owner, General Zaroff, and his gigantic deaf-mute servant, Ivan.
Zaroff, another big-game hunter, knows of Rainsford from his published account of hunting snow leopards in Tibet. Over dinner, he explains that hunting animals has become boring for him, so he moved to Ship-Trap and set it up to trick ships into wrecking themselves on the jagged rocks that surround it. He takes the survivors captive and hunts them for sport, giving them food, clothing, a knife, and a three-hour head start, and using only a small-caliber pistol for himself. Any captives who can elude Zaroff, Ivan, and a pack of hunting dogs for three days are set free. He reveals that he has won every hunt to date. Captives are offered a choice between being hunted or turned over to Ivan, who once served as official knouter for The Great White Czar. Rainsford denounces the hunt as barbarism, but Zaroff replies by claiming that "life is for the strong." Realizing he has no way out, Rainsford reluctantly agrees to be hunted.