Colonel Steve Austin, astronaut and test pilot, is badly injured when he crashes while testing an experimental aircraft. A covert government agency (OSI) is willing to pay for special prosthetics to replace the eye, arm and both legs he lost in the crash. Highly advanced technology (Bionics) built into them will make him faster, stronger and better than normal. In return they want him to become a covert agent for the OSI. It will cost $6,000,000 to rebuild Steve Austin.

Bob Hope is a New York theater critic and his wife (Lucille Ball in their final motion picture pairing) writes a play that may or may not be very good. Now Hope must either get out of reviewing the play or cause the breakup of his marriage. Based on the Broadway play by Ira Levin.