It's Greenwich Village, 1941 and Jackson Pollock (ED HARRIS) is an American painter who's been working under the WPA Federal Art Project and living with his brother, Sande (ROBERT KNOTT), and his family. Inspired by surrealism, Pollock has begun to adopt a free, abstract style of painting that's drawn the attention of fellow painter, Lee Krasner (MARCIA GAY HARDEN).
Months later, the two are living together and one day Pollock's friend, Reuben Kadish (MATTHEW SUSSMAN) shows up with Howard Putzel (BUD CORT), the "front man" for art collector and gallery owner, Peggy Guggenheim (AMY MADIGAN). Howard is impressed with Pollock's work and soon has his boss meet the painter. Equally impressed, she agrees to put on a one-man show for him in exchange for an amorous encounter and his agreeing to paint a mural in the entryway of her house.
Despite the support of friends such as architect Tony Smith (JOHN HEARD) and artist Willem DeKooning (VAL KILMER), Pollock's show doesn't go over very well, with potential buyers and critics such as Clement Greenberg (JEFFREY TAMBOR) not sure of what to make of his work.
Despite that and his drinking problem, Pollock's mural in Guggenheim's home is a success, and soon he and Lee move to Long Island for inspiration and an escape from the city. There, his work flourishes, although his drinking and temper put a strain on their relationship and occasionally his work. From that point on, and as the years pass, Pollock becomes involved with another women, Ruth Kligman (JENNIFER CONNELLY), while trying to deal with his relationship with Lee as well as his fame and popularity and their inevitable waning.