Four young grade-school girls witness the murder of one of their classmates during what they thought was just an innocent game. The killer is a strange young boy named Milo Jeeder. Sixteen years later, the four survivors of the event re-unite under happier circumstances in the same town where it happened. They believe that Milo drowned in a river shortly after the murder, but soon learn that the demonic killer Milo has also returned, still a young boy, unchanged even after almost two decades.
Scott Calvin es el padre divorciado de Charlie. La relación entre ellos se ha vuelto insoportable, pero en Nochebuena Santa Claus muere al caer del techo de su casa. Con la ayuda de Charlie, Scott será capaz de reemplazarle temporalmente.