Based on the novel by Charles Dickens. Pip, a blacksmith's apprentice comes into a handsome property. He believes that his unexpected good fortune has originated from Miss Havisham, an eccentric old lady, and the only person of wealth with whom he was acquainted; as a child he played with her adopted niece, Estella.

But Pip's Great Expectations have emanated from Magwitch, an escaped convict whom he helped and who has left the boy all of his money. Pip does not know this until the convict returns, on penalty of death, to see if Pip is happy in his new life.

Magwitch is recognised, and Pip tries to smuggle him out of the country. A chase results and Magwitch is fatally hurt where he tells Pip that he has a daughter and Pip realises it is Estella.

Pip falls ill, but when he has recovered he goes to see Estella. He finds the place as it was in Miss Havisham's time -untouched from the day long ago when the man she was to have married left her. To his horror Estella is beginning to live as Miss Havisham lived, as she has also been jilted. Pip tells Estella that he has always loved her, and so they begin their new lives together.