Mr. Magoo and his nephew, Waldo, are having the museum ceremony for the animals. Before, Magoo and Waldo are having the summer vacation for the peaceful. Waldo has his cousin and Magoo's son, Oliver, arrived from the college and Waldo visits him for the mystery of the treasure from his father's granduncle's will for a fortune in three weeks. Magoo, Waldo, and Oliver are going to the Caribbean Sea to the pirates' island to find the treasure.
