Captain America is the title of a low budget film based on the popular Marvel Comics superhero of the same name. While the film takes several liberties with the comic's storyline, it features Steve Rogers becoming Captain America during World War II to battle the Red Skull, being frozen in ice, and subsequently being revived to save the President of the United States. The film received a PG-13 rating from the Motion Picture Association of America.

Intended for a major theatrical release, the movie ended up with various delays for any planned release. It eventually got only limited release in theaters before going to video. Filming was completed in 1990, but after test marketing the film to a select audience, more stunts were added at the end.

The film starts in 1936 fascist Italy, where the government kidnaps a talented boy from his family. The boy is needed for an experimental project to create a fascist supersoldier; however, Dr. Vaselli (Carla Cassola) objects to using the boy, and under the cover of gunfire flees to the United States of America to help create an American super soldier.

Seven years later, the American government finds a volunteer in Steve Rogers, a loyal all-American that is excluded from the draft because of his polio. The formula successfully transforms Rogers into a superhero, but before any more super soldiers can be created using the formula she keeps in her head, Dr. Vaselli is murdered by a Nazi spy. Meanwhile, the Italian boy has become the Red Skull and is planning to launch a missile at the White House. Rogers, code named Captain America, is sent in to defeat the Skull and deactivate the missile.

However, after an initial battle, the Red Skull defeats Captain America and ties him to the missile as it is about to launch. Captain America is able to grab a hold of the Red Skull, forcing him to cut off his hand in order to avoid being launched into destruction with his "American brother." While the missile is over Washington, D.C., a young boy named Thomas Kimball takes a photograph as Captain America forces the missile to change course and land somewhere in Alaska, where he remains frozen until 1993.

Kimball goes on to become an honest politician and Vietnam War hero until being elected the President of the United States of America. In 1993, a year into his term, he is pushing for pro-environmentalist legislation that is angering the military-industrial complex who hold a secret conference in Italy that is led by the Red Skull.

After the War, the Red Skull had extensive plastic surgery done in a partially successful attempt to alter his deformed features, raised a daughter, and became the leader of a powerful crime family. In the 1960s, this American military-industrial complex hired the Red Skull and his thugs to murder various Americans who were against their militarirsm and Red Skull's fascism, such as Dr. Martin Luther King, President John F. Kennedy and Robert Kennedy. (Red Skull hints that he also murdered Elvis Presley, who was the most expensive assassination for him.) Now Red Skull is targeting President Kimball for assassination.

Captain America's frozen body is found in the Alaska by researchers, and he awakens still thinking that it is the 1940s. He brushes off Sam Kolawetz (Ned Beatty), a reporter and childhood friend of President Kimball, and after battling some of the Red Skull's thugs, he hitchhikes his way back to his wartime girlfriend, Bernice (Kim Gillingham), in California.

While Bernice still lives at her old residence, she has long since married and raised her own daughter, Sharon, who subsequently gives Rogers a series of VHS history tapes in order to catch up on what has happen while he was frozen in ice. Rogers and Sharon visit the secret underground base where Rogers gained his superpowers in the hopes that Dr. Vaselli's diary is still there and contains the original name of the Red Skull. While the duo are off looking for the diary, the Red Skull's thugs, lead by his daughter, break into Bernice's house and kill her. They also cause her husband to have a heart attack during their efforts to find where Captain America is hiding out.

Although Rogers and Sharon find the diary, the Red Skull's thugs manage to grab it. Upon returning home they learn that what the Red Skull's thugs have done and vow revenge as well as the rescue of the recently kidnapped president. They travel to Italy where Rogers and Sharon locate the Red Skull's home and an old recording of the murder of his parents. Sharon agrees to be kidnapped in order to allow Steve Rogers, who once again dons his costume, to enter the Red Skull's castle.

In the midst of their battle, the Red Skull pulls out a remote trigger for an explosive device, but Captain America knocks him off a cliff with his trademark shield before the bomb can be set off.

The United States Marines show up to save the President and arrest the Americans involved in the kidnapping. The credits roll with a comic book image of Captain America in the background and a plea to support the United States Environmental Protection Act of 1990.