Derek Zoolander (BEN STILLER) is a dimwitted, but vain model who's been in the business for years and recipient of the Male Model of the Year award for several years running. Thus, when he loses out to Hansel (OWEN WILSON), an upstart and very popular rookie, Zoolander's world is turned upside down.
Suddenly realizing that he must have another purpose in life, the model shocks everyone, including Maury Ballstein (JERRY STILLER), his longtime agent, when he announces his retirement.
Yet, when Derek's coal miner father, Larry (JON VOIGHT), rejects his return home, the model returns to the only world he knows. Yet, little does he realize that he's been targeted to be the patsy in an international fashion conspiracy aimed at killing the Malaysian Prime Minister. It seems the ruler has endangered the use of overseas child labor, thus necessitating flamboyant fashion designer Mugatu (WILL FERRELL) to find as assassin.
With the designer's catty assistant, Katinka (MILLA JOVOVICH), watching over him, Zoolander agrees to appear in Mugatu's latest fashion show, not realizing he's been brainwashed to terminate the leader. Time Magazine reporter Matilda Jeffries (CHRISTINE TAYLOR), however, knows something suspicious is occurring and eventually discovers the nefarious plot. From that point on, she and others do what they can to keep Zoolander from carrying out his subconscious order.