The Power Rangers, Rocky, Adam, Billy, Aisha, Kimberly and Tommy, participate with Bulk and Skull in a charity sky dive for Angel Grove in anticipation of Ryan's Comet which will pass near Earth in two days. After the Rangers jump, Bulk and Skull finally work up the nerve to jump as well, landing in a downtown construction site. At the same time the construction workers uncover a giant egg where they're digging. The egg's appearance alerts Zordon, who contacts the Rangers; he explains that 6,000 years ago, "a group of young warriors like themselves" (assumed to be their predecessors) lured a shape-shifter known as Ivan Ooze by trapping him in the egg and buried it to prevent Ooze from taking over the universe. He sends them to recover the egg, but Rita Repulsa, Lord Zedd, Goldar, and Mordant release Ivan before the Rangers arrive. Ivan has several "oozelings" attack the Rangers. While the Rangers are fighting, Ivan infiltrates the Command Center and severely damages it, incapacitating Alpha and sending Zordon outside of the time-warp tube that keeps him alive. The destruction of the Command Center disables the Rangers' morphing powers, so Alpha sends them to the planet Phaedos to search for a greater power to defeat Ivan and save Zordon. Ivan double-crosses Rita and Zedd, trapping them in a snowglobe; not wanting to meet the same fate, Goldar and Mordant submit to him.Ivan decides to recruit the parents of Angel Grove to dig up his Ectomorphicon Titans, massive Zord-like machines buried long ago. Disguising himself as a carnival wizard, Ivan gives out free jars of ooze to the children of Angel Grove, including the Rangers' young friend, Fred Kelman. The parents are hypnotized by the ooze, and they become a work force for Ivan. Fred follows the parents and discovers Ivan's plans. Meanwhile, the Rangers arrive on Phaedos and fight off an attack from Ivan's minions, the Tengoo. They then meet Dulcea, a warrior who leads the Rangers to the great power. She teaches them to harness their animal spirits and directs them to a monolith which houses the power. The Rangers uncover the power, along with new Zords to match their animal spirits. With their power restored, they return to Earth to face Ivan.Having completed his Ectomorphicon machines, Ivan orders the parents to leap to their deaths at the construction site; Fred recruits their kids, along with Bulk and Skull, to help save them. The Rangers arrive and summon their Zords to stop the Ectomorphicons. When the Rangers destroy one of his two machines, Ivan merges with the other becoming a massive version of himself and in the process destroys the monorail track. While Tommy stops the train from derailing, the other Rangers form the Ninja Megazord. Unfortunately the Megazord's outmatched in the fight. All 6 form the Ninja Falcon Megazord and trick Ivan into chasing them into space. Billy suggests they drag Ivan into the path of Ryan's Comet to destroy him. Ivan Grabs them, but Aisha hits an emergency button which releases them from Ivan's Grip. The impact from the comet destroys Ivan while the rangers successfully avoid it and return to Earth.Ivan's destruction removes the hypnotic effects of the ooze. The parents, who have been held back by Fred and the other kids, are saved. The Rangers return to the Command Center where they learn that Zordon had succumbed to the weakness caused by leaving the tube. Tommy suggests using their powers to revive him. They're able to do so, restoring the Command Center and his time-warp tube. During the following celebration, Bulk and Skull are offended that the Power Rangers are given credit for saving the city even though the two of them legitimately had a large part in saving lives. Meanwhile, in Rita and Lord Zedd's Moon Base, Goldar decides to proclaim himself "King Goldar, the Ruler of the Universe," but when Rita and Lord Zedd enter the chamber, growling at their turncoat behavior, Goldar and Mordant look at each other in shock, only managing to utter "Uh-oh!"
- The morphenomenal adventure continues in Kids World's Adventures of Turbo: A Power Rangers Movie.