During the late 19th century, an unidentified Chinese man robs the Bank of England. To evade the police, he becomes the valet for Phileas Fogg, an inventor, taking the pseudonym Passepartout. Phileas, just before Passepartout arrived, had been trying to break the 50-mph speed barrier, and after succeeding with the help of Passepartout, they head to the Royal Academy of Science. There, Fogg is insulted by the other "brilliant minds", in particular William Thomson, 1st Baron Kelvin, who believes that everything worth discovering has already been discovered. Phileas is pressured into a bet to see whether he can travel around the world in 80 days. If he wins he will become Minister of Science in Lord Kelvin's place, if not he will destroy his lab and never invent anything again. Phileas and Passepartout start their journey around the world, taking a carriage and leaving London after a confrontation with Inspector Fix, a corrupt officer hired by the Royal Academy of Science to stop them.
Passepartout and Phileas journey to Paris. Pretending to take Phileas to a convention with Thomas Edison, Passepartout leads him to an art school where Phileas meets Monique La Roche, a would-be impressionist. There, Passepartout is attacked by disguised warriors, the Black Scorpions, sent by General Fang, a female Chinese warlord who is after the Jade Buddha that he stole. Fang had previously given it to Kelvin in exchange for military assistance in China. When Monique learns of Phileas's ambition, she convinces them to take her with them. They depart in a hot-air balloon, chased by Fang's warriors.
Whilst on the Orient Express, Monique learns that Passepartout is trying to return the Jade Buddha back to his village, and is travelling with Phileas to get there quickly. Monique keeps his secret in exchange for him convincing Phileas to let her travel with him. They travel to Turkey, where the train stops. Guards climb onboard and inform the trio that they are greeted by Prince Habi. During the Prince's banquet, he orders Monique to stay as his seventh wife while the men are ordered to leave. The men blackmail Prince Habi into releasing Monique using a prized but apparently flimsy "The Thinker" statue of the Prince. The statue is destroyed, much to Habi's anger, but the three travelers escape from the guards.
Lord Kelvin learns that Phileas has been involuntarily abetting a thief's escape. He orders the British colonial authorities in India to arrest both. Passepartout sees notice of the price on his head and warns his companions. Disguised as women they evade the police in Agra but are again attacked by Fang's warriors. Using Inspector Fix and a sextant as weapons, they defeat their assailants and flee to China.
Passepartout leads his friends to his village, Lanzhou, where they are happily greeted. They spend several days there and are attacked by the Black Scorpions. Phileas, Monique and Passepartout, whose name is revealed to be Lau Xing, are held captive. Lau Xing challenges the leader of the group to a fight. At first he fights alone and is defeated; moments later he is joined by the martial arts masters of the "Ten Tigers of Canton", of which he is one. The Tigers drive the Black Scorpions from the village and free the Westerners. The Buddha is returned to the village temple. Phileas, unhappy that his companions used him, leaves China alone.
He travels to San Francisco and is tricked out of his money. He is found by Lau Xing and Monique, who decided to help him win his bet. In the desert they find the Wright brothers and the three inventors discuss the flying machine. Phileas finds the brothers' plans brilliant but suggests a few changes.
Lau Xing, Monique, and Phileas' next stop is New York City, where a crowd greets them, making it impossible for them to reach their ship. A policeman takes them through a building he claims is a shortcut, but it is an ambush. Fang's minions made arrangements with Lord Kelvin to take Lanzhou and tap the jade reserves underneath it, but if Phileas wins the bet Lord Kelvin will not have the means to help them. A battle against Fang and her minions commences in the workshop where the Statue of Liberty was constructed, ending in Fang being knocked out by Monique with a punch, revealing Monique to be the fabled 11th Tiger. The three friends are victorious. Though Phileas could have gotten the boat, he misses it to help Lau Xing. Phileas feels he has lost, but the other two say they may still make it if they catch the next ship.
They board an old ship and Phileas convinces the captain to let him build a plane out of the ship's old wood in exchange for a new ship. Using the changed Wright brothers' plans, Phileas builds a plane while the ship's crew builds a catapult to launch it into the sky. They reach London, where the machine falls apart and they crash in front of the Royal Academy. Lord Kelvin sends police to stop them from making it to the top step of the Royal Academy of Science, and the clock strikes noon, ending the wager.
Lord Kelvin proclaims himself the victor. Monique, Fix and other ministers attest to Kelvin's unfair methods and his bullying nature, but Kelvin scoffs at them. In the process he insults Queen Victoria, who is nearby listening. She learned that he had sold her arsenal to Fang in exchange for jade mines in China thanks to one of his aides. Kelvin is arrested and sent to prison, but vows revenge on all of England, especially Phileas. Phileas realizes he is one day early thanks to crossing the international date line. He ascends the stairs of the Academy and kisses Monique, victorious in his bet.
- Simba, Timon, Pumbaa, Mickey Mouse, Donald Duck, Goofy and The Bone Cousins guest star in this movie.
- The only reason why Mickey Mouse, Donald Duck, and Goofy are guest starring in this, is because Mickey Mouse and Goofy previously starred in a Mickey Mouse cartoon version of Around The World In 80 Days.