According to his eponymous martial arts novel "Flying Daggers" adapted. Although the "bad Li Xiao Li heaveho" grandson of Li Xunhuan, but because the illegitimate child identity from wandering. After many years, back to where she had lived in the mother left the treasure, only to be framed stole the silver, and into the guard leader Han Jun could trap, by virtue of its clever could escape, but was the first killer "martial arts" Luna stabbed and severely wounded, fortunately, the childhood sweetheart of cocoa the bad life, although Lee court, but was escape from death in a great catastrophe, martial arts double. The critical moment, a mysterious woman Caiyue Xue repeatedly shot rescue, two people exchange, warm feelings. Lijia housekeeper Iron Silver clothes suddenly appeared to bring Li Huai back to the Lee family, his father Li Manqing on his deathbed will xiaolifeidao secrets to Li Huai. Li bad continue to be the major sects of the kill, its mastermind is the East and main high father, he not only created a silver theft case, also attempted to capture xiaolifeidao secrets, Han Jun is one of the high father-in-law. Along the way, Li Xue and bad Caiyue after suffering, sexual gratification, has been in love with Li Huai cocoa envious heart. Cocoa confession to Li Huai, but was refused, just heartbroken when...

本片根据古龙同名武侠小说《飞刀又见飞刀》改编而成。 　　李坏虽是“小李飞刀”李寻欢之孙，却因私生子身份从小浪迹天涯。多年后，在获得母亲遗留的宝藏后回到曾经生活的地方，不料被诬陷偷了官银，并陷入锦衣卫首领韩峻的陷阱，原本可以凭借着自身的聪明本可以逃出去，却被武林第一杀手“月神“刺成重伤，万幸之中，青梅竹马的方可可将其救活，李坏虽大难不死，但遭到朝廷、武林的双面追杀。危难关头，神秘女子薛采月屡次出手相救，二人一来二往，感情升温。李家大管家铁银衣突然出现将李坏带回李家，其父李曼青临终之际将小李飞刀秘笈交给李坏。李坏继续遭到各大门派追杀，其幕后操纵者正是东厂督主高公公，他不仅制造了官银失窃一案，还企图夺取小李飞刀秘笈，韩峻也是高公公的爪牙之一。一路走来，李坏与薛采月历经磨难，两情相悦，令一直深爱李坏的可可心中嫉妒万分。可可向李坏表白，但遭其拒绝，正当伤心欲绝的时...