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As he prepares to die, the High Priest of Karnac passes to his disciple Andoheb the secrets of Karas, the 3,000 year old mummy who guards the tomb of Princess Ananka. Meanwhile, in Cairo, archaeologist Steve Banning believes that he has discovered a broken vase that will lead him to Ananka's tomb. He is discouraged from his efforts by Andoheb, an archaeology professor who, as the new High Priest of Karnac, has a secret motive for keeping all infidels from his princess' tomb. Unable to raise the money for an expedition, Steve is about to give up his quest when he and his friend, Babe Jenson, convince American magician Solvani and his daughter Marta to put up the money. Following the directions found on the vase, Steve leads the expedition to the Valley of the Jackals, where, unknown to them, Karas is kept alive by a secret formula administered by Andoheb. When the moon is full, the mummy awakens to protect his princess and destroy all those who threaten her solitude. After archaeologist Dr. Petrie and guide Ali fall victim to the mummy's curse, Karas kidnaps Marta and takes her to Ananka's tomb, where the crazed Andoheb prepares to make her immortal by administering a secret formula of tana leaves. Discovering the secret passageway to the tomb, Steve and Babe burst in just in time to save Marta and destroy the mummy in a shower of flames.