

With nothing to do on a quiet night, Ben takes the Fantasticar out for a spin and observes a spaceship in the sky. The spaceship abducts Ben, and the rest of the team attempt to track the ship down. The spaceship travels to the dark side of the Moon, and the commander of the ship, Sandro of the Centaurians, introduces himself to Ben. He tells him that they have been at war for a long time with the Polarians, and to end the war, each side has chosen a champion to fight for them. The Centaurians have chosen Ben to fight for their planet's supremacy and force him into the contest by threatening the Earth. Meanwhile, the rest of the team have tracked Ben down and hitch a lift on a Moon rocket. Inside an air-tight dome on the Moon, the Polarians led by Pollus arrive with their warrior, Monstro, a giant humanoid lizard. Monstro and Ben then compete with each other in a series of events, while Reed, Sue and Herbie enter the dome. Sue turns invisible and swaps the keys of the respective alien spaceships around. Ben and Monstro then work together and shatter the dome, causing the air to leak out. Trying to escape, the Centaurians and Polarians are unable to open their ships. Reed tells them that unless they develop a trust for each other and hand the proper keys back over, they will all run out of air.
Above the Earth, a meteor shower damages an alien spacecraft, which then falls down to the planet's surface. A giant humanoid alien emerges and makes its way towards New York. In the Fantastic Four's headquarters in the Baxter Building, Ben is helping Reed to install some heavy equipment when they are alerted to the alien's presence in the city by Herbie and Sue. Reed, Sue and Ben board the Fantasticar and find the alien threatening a city bridge, at the same time as the army, air force and navy mobilise themselves for an assault on the alien. Meanwhile, the alien has badly damaged the bridge, leaving it up to Ben and Reed to fix it while Sue follows the alien. It attacks the Fantasticar and captures Sue, forcing the planned air strike against the creature to be called off. Sue turns invisible and manages to escape from the alien, and Herbie informs the rest of the team that according to his analysis of the alien's thought patterns, any harm to the alien would place the whole planet in jeopardy. Sue turns the alien invisible so that the army has nothing to fire at and the Four return it to the crashed spaceship. The Four then have to protect the alien from the army and find out its secret.

Magneto travels to New York, seeking out the Fantastic Four. He uses his magnetic powers to break into the Baxter Building and challenges Reed for leadership of the team. Magneto battles Reed, and manages to defeat him, becoming the new leader of the Fantastic Four in the process. For the new team's first mission, Magneto claims that he has learnt that the City National Bank is about to be robbed, and after Reed insists that they follow Magneto's orders, the Four go to the bank and confound the robbers' plans by removing the money themselves for safekeeping. Magneto takes the money away himself to a secret location so the robbers will not be able to find it. After the rest of the team return to their base, Reed discovers proof that Magneto intends to keep all of the money for himself. He reveals that he only pretended to be defeated by Magneto in order to discover what he was up to. Now fully aware of Magneto's treachery, Reed once again commands the team into a battle with Magneto in order to discover what he was up to. Now fully aware of Magneto's treachery, Reed once again commands the team into a battle with Magneto in order to defeat him and return the money.