Michael Dorsey (Dustin Hoffman) is an unknown actor who has been in some small dramas and soap operas. He recently fell out with his agent George Fields (Sydney Pollack) because the agent was unwilling to help him find investment for his next drama and thought that he would never find a job again. In order to raise money to act in the script written by his roommate Jeff (Bill Murray), Michael made up as a woman and used the alias Dorothy Michaels. He heard about an audition for a TV series from his female friend Sandy (Teri Garr), and he successfully became a character named Kimberly in the play. He and the heroine Julie Nichols (Jessica Lange) in the play had a good chat, and even Julie's father fell in love with him. However, Julie did not know Dorothy's true gender. Michael gradually discovered that Julie's boyfriend, TV director Ron, did not really love her, and he himself liked Julie more and more. The character Michael created caused a sensation, and what bothered him even more was that more and more men were courting him...