After the fall of the Philippines in World War II, the Japanese discover that Gen. MacArthur ordered millions of dollars in silver dumped in Manila Bay in order that it not fall into enemy hands. Among the prisoners the Japanese have taken are two American U.S. Navy deep-sea divers, whom they then force to dive in search of the sunken treasure.

A criminal organization has obtained two nuclear bombs and are asking for a 100 million pound ransom in the form of diamonds in seven days or they will use the weapons. The secret service sends James Bond to the Bahamas to once again save the world.

First important Italian sci-fi film