Samantha, a true friend to the wild horse called Phantom, is torn when Jake, her partner in a charity horse race, loses the wild pinto filly he had planned to train to the stallion.
When a terrible blizzard traps the Phantom Stallion's band, Sam is afraid that they will be captured and is determined to help them stay free for good.
Samantha does not know what to do when her new friend Nicholas, a boy traveling cross-country on a Gypsy Vanner mare while learning about his gypsy ancestry, is suspected of being involved in the theft of a mustang.
Samantha's friend Ryan becomes determined to recapture his lost horse, Hotspot, who has been running free with the Phantom Stallion's herd, and Sam is torn between helping Ryan and staying at home where she knows she is needed.
Sam's father and stepmother's disagreement over whether horses or cattle are better for the land makes it difficult for Sam to predict what will happen when her stepmom gives her dad a wild mustang for his birthday.
Samantha, outraged over a neighboring rancher's vow to shoot the wildcats seen in the area, finds herself with a dilemma on her hands when she spots a wild young stallion alone on the range and knows the animal could be a target for the cats.