Brian O'Connor (PAUL WALKER) is a former undercover L.A. cop who lost his job after letting his mark escape. He now spends his time in Miami's underground street racing circuit racing with the likes of Suki (DEVON AOKI) and others for Tej (CHRIS "LUDACRIS" BRIDGES) who controls the local scene.
Brian is called back to active duty, however, by Federal agents Markham (JAMES REMAR) and Bilkins (THOM BARRY). They're trying to nab Carter Verone (COLE HAUSER), a powerful criminal who's involved in peddling drugs and laundering money. Although they have an agent, Monica Fuentes (EVA MENDES), deep undercover within his organization, they've yet to pin anything on him other than a connection to the illegal street racing.
Brian's only demand is that he get to pick his partner for this newest sting and he chooses former childhood friend and ex-con Roman Pearce (TYRESE GIBSON). The demolition derby driver isn't happy to see Brian, however, since he spent the past three years of his life incarcerated due to his former friend's duties.
Nevertheless, and with the promise that both of their records will be cleared should they succeed, the two audition to become drivers for Verone's business. From that point on, they try to bring him down, all while participating in some wild and dangerous races and chases.