Min Lo Chan, un diplomate chinois et ancien ami de Jonah Jameson pendant la seconde guerre, doit prouver qu'il n'est pas un traître à sa nation et demande l'aide de son ancien ami pour prouver ses dires. Mais un industriel américain M. Zeider complote car l'homme pourrait compromettre ses projets en Asie. Il envoie ses hommes de main pour enlever sa fille Emily et faire pression sur le politicien. Peter n'aura d'autre choix que de prendre son identité secrète de Spider-Man pour les affronter. Une aventure qui le conduira jusqu'à Hong Kong...
Peter Parker (Nicholas Hammond), a freelance photographer for the Daily Bugle, is bitten by a radioactive spider and discovers he has gained superpowers, such as super-strength, agility and the ability to climb sheer walls and ceilings. When a mysterious Guru (Thayer David) places people under mind-control to rob banks and threatens to have ten New Yorkers commit suicide at his command unless the city pays him $50 million, Peter becomes the costumed hero Spider-Man to stop the crook's fiendish scheme. Things take a bad turn when the villain hypnotizes Peter Parker into being one of the ten people to jump off a building on command.
The story takes place in Istanbul, where a violent criminal organization led by Spider-Man ("Spider's Gang") surfaces in the city with counterfeit United States dollars. A small task-force consisting of Captain America, Santo and Captain America's girlfriend Julia arrives to help local police stop Spider-Man and his gang.