A circle of teenage friends accidentally encounter the ancient evil responsible for a series of brutal murders that have plagued their town for over 300 years. Welcome to Shadyside.
The movie begins at the Shadyside Mall in October 1994. A bookstore employee named Heather Watkins is murdered by a serial killer wearing a skeleton costume. The Skull Mask killer is shot dead by the sheriff of Sunnyvale (a neighboring and rival town to Shadyside) Nick Goode. The killer is revealed to be Heather's boyfriend Ryan Torres, who showed no signs or intention of killing her.
Everyone at Shadyside high believes that Ryan was possessed by the witch, Sarah Fier, who was hanged in 1666 for witchcraft.
Deena Johnson doesn't believe in the curse like her brother Josh. The students go to Sunnyvale to mourn over Heather's death, but Deena goes in order to confront her ex girlfriend, Sam Fraser. A brawl happens between the students of Sunnyvale and Shadyside. Later on the bus ride home, Sam's boyfriend Peter drives up to the bus and throws drinks at it. Deena dumps water and ice on the car, causing it to crash. Deena and her friends Simon and Kate go down to make sure Sam is okay. Sam then has a vision of Sarah Fier. Sam is later taken to the hospital.
The next night, Deena, Josh, Kate, and Simon see the Skull Mask killer. Thinking it's Peter pulling a prank on them, the teens go to the hospital to make Sam tell Peter to stop, only to discover that the Skull Mask killer kills Peter and other hospital staff. Deena sees the Skull Mask killer unmasked, revealing him to be Ryan Torres, even though he was killed by Nick Goode, this means Ryan is undead, brought back by the witch.
After Deena fails to make the police believe them, Simon outside is attacked by an undead singing girl named Ruby Lane. They escape from her, and Josh explains that all the killings are caused by the curse of Sarah Fier and all the killers she's possessed, including the Camp Nightwing killer of 1978, Ruby Lane of 1965, the Milkman killer Harry Rooker of 1950, Billy Barker of 1922, the Grifter Issac Milton of 1904, and Pastor Cyrus Miller of 1666.
Sam learns that the Witch only wants her dead after seeing her. They go to the crash, and find Sarah Fier's bones, but undisturbing her grave doesn't work and the teens are chased away by the Camp Nightwing killer. Deena, Sam, Josh, Kate, and Simon go to the school and plan on using Sam's blood to lure the killers into a trap. This works and they blow up Skull Mask, Nightwing killer, and Ruby Lane, however, they come back to life after this.
Sam decides to sacrifice herself to stop the killers, but Deena and Josh learn that the Camp Nightwing massacre had a survivor, C. Berman. They unfortunately don't get an answer after calling her. Sam discovers that she died, but was brought back to life with CPR. They try this with Sam at the grocery store.
At first Sam tries to overdose, but she vomits the drugs, then Deena tries to drown Sam in the lobster tank. Kate is murdered by the Skull Mask killer and Simon gets axed in the head by the Camp Nightwing killer. As the three undead killers are about to kill Deena, Sam, and Josh, Sam finally passes away, and all the undead killers disappear. Deena then brings Sam back to life with CPR.
The next day, Deena, Sam, and Josh report this to Nick Goode, who decides to blame the killings on Simon and Kate. Deena and Sam get back together as a couple and they spend the night together. That night though, Deena gets a call from C. Berman, who tells her that they haven't stopped Sarah Fier, now Sam is possessed and tries to kill her, luckily, Deena ties her up. Deena and Josh now plan to go see C. Berman in order to save Sam.
- The movie pays homages to Scream and I Know What you Did Last Summer
- In the bookstore, actual Fear Street books can be seen on the shelves. The ones seen are The Surprise Party, The Wrong Number, The Sleepwalker, and Cheerleaders: The First Evil.
- Deena and Sam resemble the girls on the cover of The Wrong Number.
- The Skull Mask killer resembles the skeleton costumes seen on the cover of R. L. Stine's point horror book Halloween Night II.