A young dancer, disappointed with her debut on stage, has three dreams: fame in dancing at the Paris Opera, wealth through her marriage to an important jeweler, and love in the person of a petty hood. Disappointed even in her dreams, the ballerina takes refuge in her art.
Young and handsome Armand Duval falls in love with Marguerite Gautier, a 'demi-mondaine'. He manages to persuade her to give up her life as a courtesan and they both settle down in the country. Tthe beginning of their idyll is like a dream but a short-lived one as their relationship is considered scandalous by Armand's family. During a secret visit to Marguerite, Armand's father convinces her to leave his son, which she does broken-heartedly but out of love for Armand. Her end will be doubly tragic; not only does she suffer from terminal tuberculosis but she is abandoned by everyone, including by Armand, who believes she has betrayed her. At long last, learning the truth, Armand rushes to her bedside and Marguerite has the joy to breathe her last in his arms.
