A man is tracking a creature in the forest. Too late he realizes it is hunting him, and he is struck by an arrow. Meanwhile, Hercules and Iolaus are engaged in a bar fight, when a man interrupts and asks for their help. He says his village lives in fear of a creature in the forest who is half-woman, half-deer, with golden horns and hooves. Hercules recognizes this as the Golden Hind, the last of her kind. The villager, named Hemnor, wishes to save her, but his neighbors want to hunt her and Prince Nestor has sent in his soldiers to do just that.
The Hind goes to Ares at his temple in the area and tells him of Nestor's men. The god of war reminds her that he protected her from Zeus and taught her how to defend herself. He tells her to fight the soldiers, and watch out for Hercules, who is on his way. Being a servant of Ares, the Hind does not know of Hercules' good deeds and ways. Later Nestor arrives to ask Ares for the blood of the Hind, which is said to be able to kill a god. He finds only Strife, Ares' nephew, who tells Nestor to hunt the creature and not fear Ares, because the god would accept the loss if it led to Hercules' death.
In the forest, Nestor's men begin their hunt by laying traps and spreading out. Hercules and Iolaus arrive at the same time, and disarm or set off some of the traps. Separated, Hercules hears the cry of a young village boy who had run into a trap. Finding the boy dying, a beautiful young woman comes upon them. Seeing Hercules care for the child even though he is not his own, the woman displays her gift of healing, and the boy runs off unharmed. Collapsing into Hercules' arms from the effort, she is seemingly amazed to be touching another person, and introduces herself as Serena. Distracted, Hercules does not see her disappear. In another part of the forest, Iolaus encounters the Golden Hind, who shoots him before he can explain that he is there to help. Hercules finds him, and takes him back to Hemnor, then goes in search of Serena.
At Ares' temple, the god laments being unable to use the Hind's blood against Hercules, or the other gods, without retribution. At Strife's urging, who wishes to be a god on Ares' level, they come up with a plan to get to Hercules through Nestor. Outside, Hercules finds Serena walking the grounds, where she claims to serve Ares. After voicing his displeasure at her servitude to the god of war, and unable to secure her help because she is afraid of the villagers, he leaves. Eventually he comes across the Hind, who has been cornered by Nestor's men. After being saved by Hercules, the Hind runs off, but Serena apppears and agrees to help Iolaus. When she does though, Iolaus, in his post-healing stupor, touches her and she transforms into the Hind, which happens when any mortal touches her. This is why she was amazed by Hercules' touch, who as a half-god does not have the effect on her. Hercules wants to help her out and get her out from Ares' servitude. After she flees, Iolaus wakes up feeling great, and tells Hercules abotu a vision of a woman. Iolaus is told about Serena healing him, but not that she is the Golden Hind.
Back in the forest, the Hind is caught by several thorny vines that emerge from the ground, cutting her. Hercules hears her cries, and finds her in the form of Serena. Freeing her, and telling her this is Ares' doing, they leave. Hidden in the distance, Ares emerges and takes some of the vines, which have on them the blood of the Hind. Giving them to Nestor, he tells him to make arrows out of the thorns. This way, his beloved Hind stays alive, and Hercules will be killed.
As Hercules and Serena share a moment together, Iolaus arrives and she runs away. Before Hercules could tell Iolaus the truth about her, Nestor's men arrive and start a fight. Nestor shoots an arrow made of the bloody thorn at Hercules, but he catches it. Frightened, his men run off and he falls victim to one of his own traps set previously to catch the Hind.
Finally able to have a moment alone, Hercules and Serena confess that they do not want to be apart from one another, and he tells her he will be around for awhile. In the distance, Ares and Strife look upon the couple. Strife is upset at the plan failing, but Ares laughs, and sees an opportunity in the situation.