Naoto Date is a feared heel wrestler in America known as Tiger Mask who is extremely vicious in the ring. However, he decides to change after returning to Japan when a young boy tells him he wants to be a villain like Tiger Mask when he grows up. The boy resides in an orphanage, the same one that Tiger Mask grew up in during his childhood. Feeling that he does not want the boy to idolize a villain, Tiger is inspired to be a heroic wrestler.

The main antagonists are Tiger's Cave, a mysterious organization that trains young people to be villainous heel wrestlers on the condition that they give half of their earnings to the organization. Tiger Mask was once a member of Tiger's Cave but no longer wants anything to do with them, instead donating his money to the orphanage. This infuriates the leader of the organization and he sends numerous assassins, including other professional wrestlers, after Tiger Mask to punish him.

Most of the environment and characters are fictitious, but real-life pro wrestlers Antonio Inoki and Giant Baba are included in the story as well.