Scarlett O'Hara(VL) is the daughter of a rich Irish settler in southern US. Beautiful and vivacious, she is desired by all young men around her. But she is in love with Ashley Wylkes(LH) who in turn is set to marry one of his cousins Melanie Hamilton(OdH) who is a mature and a kind-hearted girl. Jealousy induces Scarlett to marry Melanie's brother Charles(RB). Soon after the confederate gets into a war with the Yankies. Charles dies. She's sent off to Atlanta to live with Melanie. There she comes across Rhett Butler(CG), a shrewd money-minded warrior, whom she had met earlier and who knows about her love for Ashley. He is one person who understands her, likes her and thus, starts flirting with her.

Soon after Ashley returns for a Christmas break. While going back he takes a promise from Scarlett that she'd take care of Melanie, who is now pregnant with his child. The confederate is on the verge of loosing the war, Atlanta is under siege by the Yankees. Scarlett braves all odds and with the help of Rhett saves Melanie's life and that of her newborn baby. But when she reaches home she finds out that the Yankees have already destroyed the place. Wylkes' home has been burned down and the entire family killed. Her own home has been burgled and everything taken. Her mother is dead and father has lost his mind in shock. Poor and Hungry she takes charge of the family. Soon, she's growing food for the entire family and is also taking care of the confederate soldiers on Melanie's insistence. One day Ashley too returns home. The confederate surrenders and with that the Yankees take charge, there are carpetbaggers everywhere.

The Yankees ask for a property tax of $300 for Tara, Scarlett's ancestral property and home. She goes to Atlanta to ask Rhett, who is now in jail, to help her out. Rhett is a millionaire but hiding his money from the Yankees. He expresses his inability to do so. There she meets Frank Kennedy(CN), an old man in love with one of her sisters. He's started his own business and doing reasonably well. She tricks Frank into marrying her, and pays the taxes for Tara. Meanwhile, she also makes Ashley come to Atlanta and join the business. She takes charge of all things and uses all ways and means to get richer. One day while travelling through a shanty she's attacked. Frank, Ashley along with a few other men raid the shanty. Frank gets killed and she becomes a widow again.

This time Rhett proposes her and she marries him. They travel across the world, and are enjoying their lives. They soon have a beautiful daughter. Rhett is madly in love with her and spoils her completely as he sees in her the Scarlett whom he originally met and loved. One day she dies in a horse riding accident. Rhett goes mad and kills the pony. He locks himself in a room with her body. Melanie comes to know of this and speaks to him. When she comes out of the room she has a heart attack. On her deathbed she asks Scarlett to take care of Ashley and also tells her that Rhett loves her. Melanie dies. Ashley confesses to Scarlett that he had always loved Melanie, and Scarlett realises that she's also in love with Rhett and not Ashley. But it's too late.