In 1933, at the height of the Great Depression, New York City vaudeville actress Ann Darrow has lost her job and is hired by financially troubled filmmaker Carl Denham to star in his new film. Ann signs on when she learns her favorite playwright, Jack Driscoll, is the screenwriter. As their tramp steamer, the SS Venture, makes the lengthy journey to the remote and mysterious Skull Island, Ann and Jack fall in love. Captain Englehorn begins having second thoughts about the voyage, prompted by crew speculation of trouble ahead.
Deep in the southern waters, the Venture receives a radio message informing Englehorn that there is a warrant out for Carl's arrest due to his defiance of the studio's orders to cease production. The message instructs Englehorn to divert to Rangoon, but despite his attempt to comply, the ship becomes lost in fog and runs aground on the rocky shore of Skull Island. Carl and his crew explore the island to film and are attacked by vicious natives, who kill Carl's sound technician, Mike, as well as one of the sailors. Ann screams as she is captured, and a loud roar is heard beyond the wall. The matriarch of the tribe targets Ann, muttering the word "Kong." Englehorn kills one of the natives and his crew break up the attack and return to the ship. They lighten their load to float off the rocks and carry out repairs, but Jack discovers Ann has been kidnapped by natives. On the island, the natives offer Ann as a sacrifice to Kong, a 25 feet (7.6 m) tall gorilla. The crew returns armed, but is too late as Kong takes Ann and flees into the jungle. Ann gradually wins Kong over with juggling and dancing, and eventually begins to grasp Kong's intelligence and capacity for emotion.
Englehorn organizes a rescue party led by First Mate Hayes and includes Jack Driscoll, Carl Denham, Jimmy, Bruce Baxter, Preston, Lumpy, Herb, Choy, and several sailors. The party barely gets outside of the walls before they run into a Ferructus that Hayes kills with his machine gun. The rescue party is then caught in the middle of a pack of Venatosaurus saevidicus hunting a herd of Brontosaurus baxteri, and Herb is killed along with four sailors. The rest of the rescue party come across a swamp where actor Bruce Baxter and two others leave the group. Meanwhile, the crew make it across the swamp on rafts, only to be attacked by "Scorpio-pedes", as well by a "Piranhadon", which devours 3 sailors and destroys their rafts, forcing the rescue party to swim back to the Shores of the swamp. The rescue party makes their way across a giant fallen log, when Kong attacks the rescue party. Hayes, Choy and several other crewmen are killed after being thrown off the log by Kong to the bottom of the cliff, and the rest of the crew is shaken off the log into a ravine; Carl's camera is destroyed as well. Kong returns to Ann and rescues her from three Vastatosaurus rex, killing them. Kong then takes her to his lair in the mountains. The remaining crew wakes up to find themselves in a pit full of giant insects where Lumpy is killed by the worm like "Carnictics Sordicus" while two others are killed by spider like creatures. Englehorn, Baxter and the rest of the crew returns, and save the last four members of the rescue party (Jack, Carl, Jimmy, and Preston) from the pit. As Jack continues to search for Ann, Carl decides to capture Kong. Jack goes to Kong's lair, inadvertently waking him. As Kong fights a swarm of flying Terapusmordax, bat-like rodents, Ann and Jack escape. They arrive at the wall with the angry Kong following them, and Ann becomes distraught by what Carl plans to do. Kong bursts through the gate and attempts to get her back, killing several sailors in the process, but is subdued when Carl knocks him out with chloroform.
Back in New York City, Carl presents "Kong, the Eighth Wonder of the World" on Broadway, starring Baxter and an imprisoned Kong. Ann is played by an anonymous chorus girl, and Kong becomes enraged after realizing that the girl on stage is not Ann. After breaking free from his chrome-steel chains, he wrecks the theater. Kong wreaks havoc around the city and chases Jack in a taxi across town. He knocks him out by stopping his taxi and flipping it, then encounters Ann again. Kong and Ann share a moment on a frozen pond in Central Park until the army attacks. Kong climbs with Ann onto the top of the Empire State Building, where he fights off six F8C-5 Helldiver Navy planes, downing three. At the end of the confrontation, Kong is mortally wounded by the gunfire and gazes at Ann for the last time before falling from the building to his death. As Ann is reunited with Jack, civilians, photographers, police and soldiers gather around Kong's corpse. Carl takes one last glimpse at him and says, "It wasn't the airplanes. It was Beauty killed the Beast."
- Knockout, Puffer, Dolphy, Rachel, Mighty Joe, Daylight, Jenny, Pete, Kevin, Blythe Baxter, Zoe Trent, Pepper Clark, Penny Ling, Vinnie Terrio, Sunil Nevla, Minka Mark, Russell Ferguson, Mitzi, Sunset Shimmer, and Belle guest star in this film.
- The extended version of this film will be used.
- Thomas & Friends: Calling All Engines! and King Kong were both released in 2005.
- In this film, Twilight, Rarity, Sunset Shimmer, and Belle will be taken by King Kong, while the rest of our heroes are with the crew to save them.