It's 1921 Berlin and director F. W. Murnau (JOHN MALKOVICH) is shooting his latest film, "Nosferatu," a vampire picture. Much to the chagrin of his leading lady, Greta Schroeder (CATHERINE McCORMACK), Murnau has taken his cast and crew to a remote part of Eastern Europe where Greta and leading man Gustav Von Wangerheim (EDDIE IZZARD) are to shoot scenes with Max Schreck (WILLEM DAFOE), an actor who also turns out to be a real vampire.
Murnau doesn't inform his crew - producer Albin Grau (UDO KIER), writer Henrick Galeen (JOHN ADEN GILLET), and cameraman Wolfgang Muller (RONAN VIBERT) - of this interesting bit of casting. Instead, he simply tells them that Schreck is a method actor who's always in character and will only film at night.
Despite his promise to leave the cast and crew alone, Schreck can't help himself and attacks Muller, thus rendering him useless for the job. Murnau then returns from Berlin with a new cameraman, Fritz Wagner (CARY ELWES), and continues shooting his picture, with everyone still oblivious to Schreck's real identity.
Moving the production to an isolated island, Murnau moves forward with his filming, hoping to keep Schreck at bay until his picture is done. Unfortunately for him, that's easier said than done, particularly since the vampire clearly has a ravenous attraction toward Greta. Nevertheless, Murnau continues shooting, eventually going to extreme measures to capture his story on film.