Pete Hawkins, an auto racer, takes his Formula 1 car out for a test run on a secluded highway in Nevada, when, for amusement, the Ghost Rider buzzes him. He skids to a stop, injuring his arm. The Ghost Rider continues to Las Vegas, where he reverts to Johnny Blaze. Heading to his room, he passes through the Diamond Cowgirl Casino, and witnesses an altercation between Tatterdemalion (who has made it his mission to destroy the wealth of the rich) and the Werewolf (who has tracked him from L. A.). When the Werewolf suddenly ignores his foe and goes on a destructive rampage, Johnny again becomes the Ghost Rider to subdue the man-beast. When their fight carries them outside, the sun's rays cause Jack Russell to revert to himself, and Johnny does likewise.
Over breakfast, they tell each other their histories, Jack including the fact that he now controls his bestial side (except during full moons), and that morning's rampage was an aberration.
That evening, Johnny performs his stunt show while Jack watches from the wings. Suddenly, he becomes the enraged Werewolf again, disrupting the show and forcing Johnny to become the Ghost Rider to tackle him. Jack regains control, and reluctantly agrees to confinement until he figures out what going on.
The pair go to Langtree Motors' field, where Johnny asks his sometime girlfriend, Gina Langtree, for the use of a quonset hut to secure Jack. She agrees in exchange for Johnny taking over the wheel of the racer, since her driver, Hawkins, has an injured arm. They lock Jack in the hut and proceed to the racetrack.
Later, a mechanic, unaware of the hut's current occupant, unwittingly opens the door, releasing the Werewolf who slashes his face.
At the track, Tatterdemalion pops up and decks Johnny. Moments later, the Werewolf arrives, but the Tatterdemalion knocks him cold with his weighted scarf. He then steals the racer, intending to crash it. Johnny transforms, and the Ghost Rider gives chase. On a narrow stretch of road, the Ghost Rider forces the racer off the road. He leaves the crash site, thinking his foe dead, but Tatterdemalion crawls from the wreckage.
The next afternoon, Jack recovers in a hospital, and explains to Johnny that he believes the unbidden transformations are a result of the control device temporarily placed on him recently by Dr. Karl Malus, who sought to enslave the Werewolf.
They bid each other farewell, and in the hallway, Johnny meets Gina, who tells him she can't handle the demonic side of him, and breaks off their relationship.