The movie revolves around Walter Mitty (played by Ben Stiller), a quiet and introverted man who works as a negative assets manager at Life Magazine. Walter's mundane life is filled with daydreams, where he imagines himself as a hero, adventurer, and a free spirit. However, his life takes a dramatic turn when he is tasked with finding a famous photographer, Sean O'Connell (played by Matt Addy), who has gone missing. Walter's search leads him to embark on a journey to Iceland, where he encounters various challenges and meets new people, including Penelope (played by Kristen Wiig).