Mortimer "Mo" Folchart (BRENDAN FRASER) is a bookbinder who doesn't realize he's actually a "silver tongue," a person with the ability to bring literary characters to life simply by reading aloud from the book in which they initially only exist on paper. When he reads from the book "Inkheart," he ends up changing his and his family's life forever.
And that's because whenever someone moves over from the literary to the real world via his reading, someone in his presence is sent the other way. Now, 12 years later, Mo travels with his teenage daughter, Meggie (ELIZA HOPE BENNETT), from one old bookstore to the next, all in search of a copy of "Inkheart" in hopes that he might be able to retrieve his wife, Resa (SIENNA GUILLORY), who disappeared on that fateful night.
He's not the only one interested in the book, however, as one of the characters who crossed over, fire-handler Dustfinger (PAUL BETTANY), desperately wants to be sent back. But others who crossed over with him, most notably henchman Capricorn (ANDY SERKIS) and his various thugs, including the knife-wielding Basta (JAMIE FOREMAN), have no intention of returning to their literary world.
Instead, they want to use Mo to further enhance and strengthen their position in their new home, something fellow silver tongue Darius (JOHN THOMSON) hasn't been terribly successful at, although he's done well in delivering any number of literary animals, from a unicorn and minotaur to the flying monkeys from "The Wizard of Oz."
When Dustfinger contacts Mo with the demand that he be sent back, Mo and Meggie go on the run, first stopping to see her great aunt, Elinor (HELEN MIRREN), and later the author of "Inkheart," Fenoglio (JIM BROADBENT), in hopes that he might be able to help him.
With other literary characters, such as Farid (RAFI GAVRON) from "One Thousand and One Nights," joining them, Mo and the others try to find a copy of "Inkheart" to bring back Resa, while Dustfinger desires to be sent back to his family, and Capricorn wants his book's scariest character, The Shadow, to cross over and further strengthen his position in his adopted world.