A lonely orphan escapes from a life of servitude with the cruel Gogan family with the help of a magical dragon. The boy makes a fresh start in a seaside town, befriending a lighthouse keeper and her father, but the Gogans are soon on his trail, while a phoney doctor wants the dragon for his travelling show. Part-animated musical fantasy, starring Helen Reddy, Jim Dale, Mickey Rooney, Red Buttons and Shelley Winters.

Pete, a young orphan, runs away to a Maine fishing town with his best friend a lovable, sometimes invisible dragon named Elliott! When they are taken in by a kind lighthouse keeper, Nora, and her father, Elliott's prank playing lands them in big trouble. Then, when crooked salesmen try to capture Elliott for their own gain, Pete must attempt a daring rescue.