NOTE: This spoiler was sent in by Green Girl!
A voice over by Brom (Jeremy Irons) opens the film. He explains how the once happy days of their land Alagaesia, were thwarted by evil King Galbatorix (John Malkovich) who had all the dragons and dragon riders killed so he could be more powerful. He says their only chance for happiness is the hop that one day a dragon and rider will be found.
He narrates as a young girl, Arya, frantically rides through the woods with a bag. The narrator explains that she is carrying a precious stone stolen from King Galbatorix himself. Dark soldiers knock her from her horse and she sprints through the woods, but is stopped when she finds herself surrounded by a wall of fire. Having nowhere to run she stands and watches as a figure emerges from the smoke.
He is Durza, the King's evil Shade (wizard). He demands the stone from her but she magically makes it disappear. She has vanished it to it's owner, she says, and Durza furiously attacks her.
Cut to a shot of a small farmhouse. A young boy, Eragon is getting ready early in the morning to go hunting.
He creeps up on a deer in the woods, aiming his arrow, but suddenly the deer vanishes and is replaced by the stone. Eragon, bewildered approaches the stone. It's egg shaped and brilliant blue. Happy that he found something that might be of value, he takes it back to his town.
He tries to trade it to the town butcher, because meat has become scarce and expensive for everyone, but when he tells the butcher that he found it in the King's woods, the butcher demands that he take his stone and leave. Eragon returns to the farmhouse where he lives with his Uncle and cousin. He has a mock duel with his cousin Roran. He puts the stone in his room.
Eragon watches in wonder as it hatches into a young blue dragon. He keeps it as a pet. The next day he sadly says goodbye to his cousin Roran who is leaving before he can be recruited into the King's army.
Back at King Galbatorix's castle, he tells Durza to make sure both the rider and the dragon are killed. And Durza releases these gross jumping henchmen called Ra'zac to find Eragon.
At the town tavern, out of towner Brom sits drinking and rambling on and on about the atrocities of the King. Some of the Kings soldiers are passing by and tell him he'd better quiet down. Eragon listens intently as Brom goes on about the Dragon Riders that once protected them, and how it was the Kings doing that they no longer existed. Eragon realizes that Brom knows a thing or two about Dragons and tries to ask him some questions but Brom tells him to go away.
The next day, Eragon encourages his baby dragon to fly and it finally does. It soars into the sky and while among the clouds it transforms into a full grown dragon. It returns back down to Eragon and speaks to him through her thoughts. She says she can hear his thoughts and he can hear hers.
She says her name is Saphira, she says he is to be her rider. Eragon, excited but overwhelmed returns back to town. He sees the town butcher being attacked by Durza's henchmen. The butchers confesses that he saw Eragon with the stone and tells them where Eragon lives.
Eragon rushes on his way home, afraid that the henchmen will harm his Uncle. Saphira picks him up and flies him around pleading with him not to go home, because he will be killed. Eragon yells at her to put him down and he rushes home in time to find a wrecked house and a dead uncle.
Brom shows up, but is no longer the drunken rambler that Eragon met. He has a sword and armor and says he and Eragon must leave before the henchmen return. They ride away and into the mountains. Brom says he knows Eragon is a dragon rider and says to call his dragon to him. Eragon tells Spahira through his thoughts that she needs to come to him. She shows up and Brom explains to Eragon that they are the only hope to save the land. He explains that Durza and Galbatorix will try to kill him, because when a Rider dies, so does his dragon.
Brom and Eragon travel to a strange town for supplies. Eragon sees a young man in a black cloak watching him. Brom and Eragon are about to leave but are attacked by the king's Army. In a moment of panic Eragon shouts a magical spell, thus learning that he has magical powers.
Brom and he escape and later Brom teaches him a little about spells. Then Eragon and Saphira fly together and Eragon learns that he can fight while riding.
Before going to bed that night, Eragon gets Brom to admit that he too was once a dragon rider, but that King Galbatorix had his dragon killed. While sleeping Eragon dreams of Arya whom he has never met, and she tells him he is the only one who can save her. She says she's in Durza's prison.
The next morning, Eragon tells Brom he is going to find her and save her. Brom says no, that he is taking Eragon to a people called the Varden, to keep him safe. Eragon says he can save Arya, and he and Saphira rush off to find her.
Inside the castle, Eragon calls upon his newly found powers to locate Arya. He attempts to get her out, but evil Durza appears and he and Eragon engage in a battle of powers. Durza is by far, stronger, and is about to hurl a spear at Eragon when Brom shows up and jumps in front of Eragon, taking the spear in the chest. They are about to lose the fight when Eragon sees the cloaked young man from the strange town aiming an arrow at them. The young man shoots instead at Durza's soldiers and tells Eragon to escape. Saphira struggles but is able to fly off carrying Brom Arya and Eragon.
Eragon tries to use his powers to save Brom from his wound, but he cannot do it. Brom dies and they pile rocks over his body. Arya becomes ill from the poison Durza gave her while she was his prisoner. Saphira flies around over head and returns with the cloaked young man who saved them. She throws him down by Eragon and says he's been following them. His name is Murtagh. He says he can lead them to the Varden.
True to his word he shows them the right way to the Varden. Their King Ajihad, welcomes them, explaining that he and his people are over joyed that a Dragon and Rider have been found. Arya is taken to a room to be healed, but Murtagh is locked away as it is revealed that he is the son of a traitor, a man who betrayed the dragon riders.
King Galbatorix's army is gathering outside of the kingdom, ready to attack. Eragon and Arya, along with the Varden, prepare for battle.
When the battle erupts, both armies fight while Eragon and Saphira fly around doing their part. Durza conjures an evil dragon like beast and rides it, chasing Eragon.
Saphira is wounded by the beast, but manages to keep flying. Eragon climbs down to her tail, and holds on. He surprises Durza and stabs him through the heart, killing him. Saphira crashes and she begins to fade. Eragon uses all of his strength and his power to try and heal her. He doesn't seem to care that some spells could kill him if used without enough strength. He passes out.
He wakes up, and is being watched over by Murtagh. Murtagh tells him that he saved the land of Alagaesia from evil Durza.
Saphira appears, scolding Eragon for using a spell that could have killed him, but she is glad he did it, because it saved her.
Eragon catches Arya just as she is about to leave and she tells him they will meet again.
Eragon and Saphira fly off and disappear into the clouds.
You think this is the end of the movie, until it shows an enraged King Galbatorix ripping down a curtain and revealing a angry black dragon.