A stranger who calls himself Kári comes to a farm in the north country. He is hired as a laborer, and the widowed farm owner Halla becomes infatuated with him. The local bailiff, who wants to marry Halla, becomes jealous of Kári. Another man tells the bailiff that Kári is in fact a thief and fugitive named Eyvind. Kári at first denies being Eyvind and then defeats the bailiff in a wrestling contest as a measure of his sincerity. However, when Halla proposes marriage, he confesses the truth of what happened in his earlier impoverished life as Eyvind.
When the bailiff returns with others to arrest Eyvind, he and Halla abandon the farm for the bare, cold highlands, where they live for many happy years. They have a baby girl and are accompanied by their friend Arnes.
However, around when the girl is three, Arnes confesses his loneliness and love for Halla. Halla does not share his feelings, and he decides to leave them. As he is walking away, he sees a group of men approaching and runs back to warn Eyvind and Halla. The men arrive at the same time, and a fight ensues. In fear of capture, Halla throws her child off the cliff into the river below.
Eyvind and Halla escape into the hostile winter. Some time later, they are holed up in a small cabin with no food. They are crazed with hunger. Eyvind considers abandoning Halla but does not. When Eyvind goes for firewood, Halla wanders out of the cabin and freezes in the snow. Eyvind finds her and holds her until he has died, frozen by her side.
