An airplane piloted by Launchpad McQuack carries zillionaire Scrooge McDuck, duckling niece Webbigail “Webby” Vanderquack, and duckling nephews Huey, Dewey, and Louie into the Middle East. Launchpad topples ancient pillars as he lands at the ruins of the temple of Collie Baba. Scrooge’s Arab workers rush to tell him they found what he has sought for forty years. As they raise a treasure chest from the ground, Scrooge recognizes Collie Baba’s golden seal. The chest contains only worthless robes, but Louie finds a map in one of the pockets. Dijon, a weasel spy among the Arabs, carries news of the map to Merlock the Wizard, who orders him to return to Scrooge’s group and guide them to Collie Baba’s treasure in the desert. As Scrooge’s caravan follows the map, Launchpad’s camel trips over a tiny pyramid in the sand. They dig around it, and the pyramid grows larger, until they unearth a giant monument. Merlock, a shape-shifting sorcerer who has changed into a hawk, circles overhead. The large pyramid door opens, allowing Scrooge and the others inside, but they encounter numerous booby traps, which the ducklings harmlessly trigger by tossing marbles. However, Dijon innocently steps on a brick that drops them through a trap door into the pyramid’s lower regions. There, they find Collie Baba’s treasure inside an upside-down giant turtle shell atop a high table, accessible only by a footbridge. Below, large, hungry scorpions snap their claws. Inside the shell are gold and jewels of all types and sizes, along with a lamp, which Scrooge gives to Webby for her tea set because he thinks it has no value. They put the treasure into a large bag, which Dijon volunteers to carry across the footbridge. As the weasel buckles under the weight, Merlock swoops down and carries the bag and Dijon to safety. Reverting to human form, Merlock sets the footbridge on fire, trapping Scrooge, Launchpad, and the ducklings on the table top. When he pushes a lever that lowers the table into the scorpion pit, the ducks use the turtle shell as a protective umbrella and escape. Finding an underground stream, they flip the shell over and use it as a raft to reach an oasis. Meanwhile, Merlock empties the bag and finds the lamp missing. By the time he returns to the pyramid, Scrooge and the others are gone. He orders Dijon to find the lamp or suffer a fate worse than scorpion stings. Returning home to Duckburg, Scrooge is despondent over losing the treasure. Webby offers to give him the lamp, but he tells her to keep it. Later, as Webby polishes the lamp for a tea party with her cousins, a Genie pops out, happy to be free after a millennium of confinement. He rushes to Scrooge’s library to “catch up with the twentieth century,” but the ducklings remind him his job is to grant wishes. When Webby wishes for a baby elephant, one appears with a pink bow around its neck and begins tearing up the house, prompting her to wish it away. The Genie suggests they make smaller wishes. He also begs not to be returned to the lamp, so they hide him from Scrooge by putting a baseball cap on his head and passing him off as a neighborhood kid. Later, when the ducklings wish for an ice cream sundae, Genie gives them one large enough to ruin all their dinners. That night, Genie lies in a bunk bed, happy to be living like a boy, but seeing the shadow of an owl flying overhead sends him into a panic. He explains to the ducklings that his previous master, Merlock, was a wizard who changed into various animals and made him do terrible things, like sinking the resort continent of Atlantis because it refused to give him reservations. Also, Merlock wore a magic talisman that gave him his powers, and when he placed it upon the lamp, he could make as many wishes as he wanted. The ducklings suggest they wish for the talisman, but Genie says he cannot grant that wish. The next day, Merlock flies to the McDuck estate with Dijon, changes into a rat, and slips through the front door mail slot. As Merlock listens in a hallway to Webby hosting Genie and all her stuffed animals at a tea party, Scrooge’s housekeeper, Mrs. Bentina Beakley, sneaks up and whacks him with a broom, sending him flying. Inside the room, when Webby wishes all her animals were alive, they spring to life and create havoc throughout the house. A tiger chases Merlock the rat. Though Webby is out of wishes, Louie has one left, so he wishes the animals back into their inanimate forms. Seeing the lamp’s power, Scrooge grabs it and wishes he had all of Collie Baba’s jewels and gold again, and immediately the treasure piles up in the hall. Then he orders Genie back into the lamp, over the protests of the ducklings, so that he can show off at the banquet he is set to attend that evening. Elsewhere, Dijon sneaks into the house and finds the gold, but Merlock reappears in human form and demands to know where the lamp went. Later, at the banquet, Scrooge lets Genie sit in his pocket instead of being kept inside the lamp. Genie enjoys food and drink. As Dijon sneaks through the back door, he is distracted by silverware and piles it into his clothes. Scrooge gets up to speak and announces to everyone he finally found the treasure he was searching for, but before he can say more, Genie pulls him into another room and warns that Merlock has arrived, and urges Scrooge to wish for a hiding place. Merlock, now a gorilla, pounds down the door only seconds after Scrooge and Genie disappear. Merlock turns into a hawk and leaves to search the skies, not realizing the lamp is resting in the overhead light fixture and that Scrooge and Genie are inside. Scrooge wishes them outside the lamp again, then orders Genie back inside. Hurrying from the room, Scrooge trips over a table and drops the lamp. Picking up another lamp similar to it, he continues running. When Genie calls out to Scrooge, Dijon hears his voice and rubs the lamp to make him appear. Dijon is overjoyed to be able to return the lamp to Merlock, but Genie convinces him to keep it for himself, because Dijon is now the “master” with all the power. When helicopter pilot Launchpad drops Scrooge off at his mansion, Dijon is waiting. The weasel wishes his new servants to carry Scrooge outside, throw him into a paddy wagon, and take him to jail. Scrooge’s family and servants inform him that Dijon has taken over his empire. The ducklings decide to steal the lamp, and Scrooge tells them how to evade the mansion alarm system. Launchpad drops Scrooge on the roof from an airplane, and the ducklings sneak into the house, stepping only on white tiles to avoid setting off alarms. Elsewhere, Merlock changes into a cockroach and slips inside the house. Using slingshots, the ducklings shoot marbles at the security control panel and neutralize it. Scrooge breaks into the top floor with a crowbar, climbs down the elevator shaft, and enters the room where Dijon rejoices over his gold. However, the cockroach Merlock reaches the lamp first, changes back into human form, and orders Genie to turn Dijon into a jackass. Then he commands the lamp dweller to transform the mansion into Merlock’s ancient fortress and fly it back to the Middle East. The fortress lifts into the air. One of the ducklings knocks the lamp out of Merlock’s hand with his slingshot, and as Scrooge, the lamp, and Genie fall to earth, Merlock leaps after them. In a midair struggle, Scrooge knocks the talisman out of Merlock’s hand, rendering him powerless. Then he wishes for everybody, except Merlock, to return to Duckburg. Back home again, Scrooge wishes for Genie to become a real boy, and without a purpose, the ancient lamp turns to dust. Dijon escapes the mansion with his baggy pants full of gold.