After Arsène Lupin III disappearance in the world, people have began imitating Lupin's appearance and personality in an attempt to become the "real Lupin". After a fake Lupin was captured by the police, all the Lupins around the world travel to Tokyo to free the captured Lupin only to be captured themselves. A skilled pick pocketer named Yasuo is given a green coat and a Walther P38, the same gun Lupin uses, by a mysteriously elderly man. Yasuo decides to don the Green jacket and takes the role of Lupin. He then announces to the company Night Hawk that he will steal the object they have secured in the building, the Ice Cube. After gathering information on the Ice Cube, Yasuo is confronted by the real Lupin donning the Red Jacket. Yasuo decides that if he can defeat the real Lupin, he will be considered the new Lupin. However they are interrupted when a missile strikes the car behind Yasuo and seemingly kills him. Yasuo awakens to find out Fujiko Mine had save his life. They decide to team up in order to steal the Ice Cube. Once breaking into the Night Hawk building, Yasuo manages to possess the Ice Cube which is revealed to be the prototype of a new generation of nuclear warfare. Lupin and Koichi Zenigata allows Yasuo to escape with the Ice Cube to prevent its misuse in war. The next day, a fake Lupin decides to set up a match between Lupin and Yasuo. The two meet atop a building and a Lupin with an unknown jacket color is thrown off the building. The unknown Lupin awakens in an ambulance and escapes before Zenigata captures him. Yasuo decides to pay a visit to his sick grandmother who wishes him well. Later that night, Yasuo, revealed to be the winner of the duel, escapes with Daisuke Jigen from the cops.
Yasuo, un giovane barista che si trasforma, all'occorrenza, in un abile ladruncolo, sta passando un brutto periodo: è depresso e insoddisfatto, anche perché la sua fidanzata, Yukiko, una valida giornalista televisiva, l'ha lasciato. Per dare una svolta eroica alla sua vita, il ragazzo si ispira al suo mito, Lupin III, e tenta di rubare un enorme diamante grezzo e regalarlo a Fujiko. Il travestimento con cui si copre è così perfetto che inganna anche Jigen e Goemon
Lorsqu'un imitateur de Lupin est arrêté pour vol à l'étalage à Tokyo, des dizaines d'autres imitateurs convergent vers la ville pour blanchir le nom de Lupin III. Le vrai Lupin est également en ville, à la fois pour regarder le spectacle et pour voler un mystérieux objet appelé Ice Cube. Mais l'un de ces imposteurs a également des vues sur le Cube. Est-il assez bon pour battre l'original à son propre jeu ?
警視庁ルパン三世特別対策本部は、大量のルパン出現に頭を悩ませていた。そんな中、ある偽ルパンが650円の万引きで逮捕、これに憤慨し東京に集結した偽ルパンたちが一斉検挙を食らっていた。一方、ラーメン屋のアルバイトとスリで生計を立てていた青年ヤスオは、偶然にもワルサーP38 をスッたことでルパンとして活動を開始。軍事組織ナイトホークスがもつ秘宝"アイスキューブ"を求めて、そして本物を証明するため"赤ルパン"と対峙していく。
