Inspector Zenigata is depressed after being pulled from the Lupin case, and he ends up drinking with Lupin and Jigen. Lupin and his gang decide to collaborate with Zenigata to solve his latest case, which involves investigating a ring of arms dealers known as Shot Shell. Lupin gathers his partners (Jigen, Goemon, and Fujiko), and they steal a Russian submarine with Zenegata. They kidnap a scientist called Karen Korinsky in order to use the sub and protect her from Shot Shell. Meanwhile, the ICPO appoints a guy named Keith Hayden to the Lupin investigation, and, unlike Zenigata, he wishes to kill Lupin and his group. Keith follows Lupin and his friends wherever they go, while the police seeks to take them off one by one.