Golden Swallow is a fighter-for-hire who has been contracted by the local government to retrieve the governor's kidnapped son. Holding him is a group of rebels who are demanding that their leader be released from prison in return for the captured son. After a brief encounter with the gang at a local restaurant, Golden Swallow is joined by an inebriated wanderer Drunken Cat who aids her in her mission.

Golden Swallow revolves around the further adventures of its title character. This time around, she is forced into violence when a figure from her mysterious past goes on a killing rampage while leaving evidence that holds her responsible. Golden Swallow also makes room for a love triangle involving a mad, but righteous, swordsman named Silver Roc and a gentle warrior named Golden Whip. The three team up to conquer the evil forces of the martial world, but their joint venture only lasts so long, due to the two men's egos. Ultimately, a duel to the death is planned between them, leaving Golden Swallow caught between two men, both of whom she admires.