London bachelor Reggie Bryant receives a most unusual gift from his uncle - an ancient Egyptian sarcophagus with a 3,000 year old princess inside. More amazing still, when Reggie lifts the lid, he finds not a dried-up old mummy, but a very gorgeous and nubile young blonde who identifies herself as Princess Raviola. Forgetting all about his fiance, Reggie and the Princess set off on a wild drinking and dancing escapade through the nightclubs of London. Wishing to return the favor, Princess Raviola whisks Reggie 3,000 years back in time to ancient Egypt, where she intends to show him how they partied in Pharaoh's Palace!

In ancient Egypt, Queen Neco Tokris angers the high priest by falling in love with a minor cleric. The high priest arranges for his rival to be stoned to death, and the queen, rather than submit, allows herself to be buried alive with her lover's body. Many centuries later, a ship steams toward Cairo, Egypt. Among its passengers are wealthy playboy Reginald Stanhope; vaudeville dancer Celia Thaxter and her manager, Gregory Gallup, who together are maneuvering Reginald into marrying her. Also aboard are Herbert Boone, a shell-shocked drug addict, and his nagging wife, Adele; Kelim Pasha, an Egyptian prince who attracts Adele Boone's affections; and Mahmud, an Egyptian mystic who insists that Celia Thaxter and Herbert Boone are the reincarnations of an ancient Egyptian queen and a priest who sacrificed themselves for their love.