When the Dark Elves seek to destroy the universe, Thor must reunite with Jane Foster and stop them from plunging the universe into darkness.

Imprisoned on the planet Sakaar, Thor must race against time to return to Asgard and stop Ragnarök, the destruction of his world, at the hands of the powerful and ruthless villain Hela.

Thor enlists the help of Valkyrie, Korg, and ex-girlfriend Jane Foster to fight Gorr the God Butcher, who intends to make the gods extinct. Gorr, the last of his people, seeks vengeance against the gods for their perceived abandonment. Thor and his team travel to Omnipotence City to warn Zeus of Gorr, but instead, they face resistance. Thor rekindles his relationship with Foster, who becomes the Mighty Thor after Mjølnir chooses her. They battle Gorr and his shadow monsters, but are ultimately forced to flee back to New Asgard. Thor and Mighty Thor join forces with the children who possess the powers of Thor to face Gorr in the center of the universe. Mighty Thor sacrifices herself to shatter the Necrosword, and Thor uses Gorr's wish to resurrect Foster's daughter. In the aftermath, Thor raises Gorr's daughter, and they become known as Love and Thunder, traveling the galaxy to help others.

The powerful but arrogant god Thor is cast out of Asgard to live amongst humans in Midgard (Earth), where he soon becomes one of their finest defenders. Three scientists, Jane Foster, Erik Selvig, and Darcy Lewis, are in the New Mexico desert studying an aurora-borealis-type phenomenon when they encounter Thor, who is semi-conscious. Years later, Thor is about to be recognized as the crown prince of Asgard when intruders attack. Thor defies his father's orders and travels to the frost giant planet, Jotunheim, with his friends. This leads to a war between Asgard and the Frost Giants. As punishment, Thor is banished to Earth without his powers and his hammer, Mjolnir. On Earth, Thor learns humility and falls in love with Jane Foster. With the help of his friends and the retrieval of Mjolnir, Thor defeats the Destroyer and returns to Asgard to save his father from Loki, who is revealed to be his adoptive brother. Thor destroys the Bifrost Bridge and prevents Loki from destroying Jotunheim. Loki falls into the abyss of no return, and Thor reconciles with his father. Post-credits, Selvig meets Nick Fury and Loki appears, expressing interest in a powerful object.