It's just another average day in Ekoda High School Class 2-B as childhood friends Kaito Kuroba and Aoko Nakamori chase each other around the classroom after Kaito peeks at Aoko's underwear. Kaito seems pleased with himself until Aoko says that even Kaito couldn't beat Kaitou Kid, a thief known for using magic. Kaito takes Aoko up on this challenge and says he'll catch Kaitou Kid himself and disappears from the classroom. Meanwhile, Aoko's father, Inspector Ginzo Nakamori sees a news report that Kaitou Kid plans on stealing a gem called the Moonlight Eye.
Sitting in his room after school Kaito sees the news report on TV as well. Hearing that Kaitou Kid has reappeared after he suddenly vanished eight years ago reminds Kaito of his father, the famous magician Toichi Kuroba, who passed away eight years ago in a stage accident. While thinking about Toichi, Kaito puts his hand on the portrait of his father hanging in his bedroom and suddenly falls through the wall as the painting flips around. Kaito finds himself in a hidden room and a recorded message on a tape recorder left behind by his father. Unfortunately the tape is old and breaks but then Kaito discovers an unusual outfit. At the same time, Aoko is visiting the Kuroba household and speaks with Kaito's mother Chikage Kuroba in an effort to find out Kaito's weakness. Curious about his father, Kaito puts on the white cape and hat and decides he'll go to the Kid heist to meet him and get some answers.
Kaitou Kid successfully steals the Moonlight Eye and works on making his escape only to encounter Kaito dressed in a similar outfit on the room. Kaitou Kid is surprised and tries to fool Kaito with a magic trick. Using the trick he used on Aoko earlier and his card gun, Kaito successfully unmasks Kaitou Kid and reveals Kid's trick of using mirrors on his body to seemingly make his body disappear. The unmasked Kid falls to the ground in shock and in tears calls Kaito by his father's name. The man named Konosuke Jii who was an attendant of Toichi's reveals his plan to wear the Kaitou Kid outfit in an effort to lure out Toichi's murderers. Alarmed, Kaito asks Jii about Toichi's death and whether or not Toichi was Kaitou Kid. Jii tells Kaito the truth just as the police manage to make their way to the rooftop. Kaito decides to act as bait to allow Jii to escape and declares himself as Kaitou Kid.
The next day at school, Kaito is looking at the Moonlight Eye in his hand when Aoko suddenly appears with what Kaito's mother has revealed to be Kaito's weakness: fish. Frightened, Kaito accidentally drops the Moonlight Eye in the fish's mouth and then begins shooting at the fish with his card gun. Aoko yells at Kaito to knock it off and asks him if he knows how much the fish is worth. Kaito surprises Aoko by telling her "400 million yen". Later that night Inspector Nakamori discovers the Moonlight Eye in the fish his daughter brought home for dinner.
