The last thing TV news reporter Peter Allbright expects when covering the typically trivial Christmas stories is to get a great scoop. But then he never expected the real Santa Claus to drop into his life - quite literally! Wile cruising in his sleigh Santa tumbles out and lands in front of Peter's car. Santa is fine, except that he has total amnesia and can't remember a thing about his Christmas duties, or the words to "Jingle Bells", or even how to ho-ho-ho. Peter, jaded by the crass commercialism of the season, sees the strange man with amnesia in the Santa costume as a great human-interest story. And his on-again, off-again girlfriend, Claire, sees the bearded old man as the perfect choice for the department store Santa she needs. The only one who suspects be is the real Santa is Claire's seven-year-old son, Zack. With Christmas just days away, Santa's elves, led by elf-boss Max, have launched an all-out search to find their jolly 0l' boss.