Larry Flynt is the hedonistically obnoxious, but indomitable, publisher of Hustler magazine. The film recounts his struggle to make an honest living publishing his girlie magazine and how it changes into a battle to protect the freedom of speech for all people.

A street-wise kid, Mark Sway, sees the suicide of Jerome Clifford, a prominent Louisiana lawyer, whose current client is Barry 'The Blade' Muldano, a Mafia hit-man. Before Jerome shoots himself, he tells Mark where the body of a Senator is buried. Clifford shoots himself and Mark is found at the scene, and both the FBI and the Mafia quickly realize that Mark probably knows more than he says.